Builders' Merchants News
Travis Perkins doubles chief exec's salary
Published:  15 April, 2010

NORTHAMPTON: The salary of Geoff Cooper, chief executive of Travis Perkins increased to 1.41m last year from 777 000 in 2008. The increase included a 636 000 bonus in 2009 when the merchant's share price more than tripled in value.

His award came after the executive team led cut costs by 60m as part of a major restructure. The turnaround programme saw 2500 job cuts including nearly 30 senior managers over the past two years.

Staff, excluding the executive team, received 2.5% pay rise last January. Board directors received no bonus in 2008 with salaries frozen for the first 11 months of 2009.