The chief executive of Johnston Press, owner of The Scotsman newspaper, was awarded almost a million in pay, benefits and bonuses last year.
Says The Scotsman's business section today, John Fry was awarded £959,000, the figure having been revealed in the company's annual report, which was launched yesterday.
Fry’s pay package included a £210,000 cash bonus plus a £210,000 performance-related bonus is shares coupled with a £525,000 basic salary.
Although Fry’s basic salary in smaller than the £573,000 his predecessor Tim Bowdler earned two years ago, during that same year all executive directors waived their right to performance-related bonuses. Bowdler retired early last year.
The report also showed that the basic salary of the groups two other executive directors – chief financial officer, Stuart Paterson, and chief operating officer, Danny Cammiade -had remained constant between 2008 and 2009. Paterson’s total package for 2009 was £655,000 while Cammiade’s was £590,000.
The annual report can be read here.
Ian Russell, chairman of Johnston Press said in the report: “Although conditions remained tough, I am pleased that the past year has seen a measure of stability returning to the markets in which we operate.”