WPP will be ushering in the new year with a new CFO — John Rogers, a veteran of Sainsbury’s, the UK retailing giant.
He will succeed Paul Richardson, who has been the company’s financial chief for nearly two decades. Richardson announced he’d be retiring earlier this year.
Rogers will have an annual salary of nearly $1 million when he joins the firm, WPP has disclosed.
But he also has the opportunity to earn much more. Here are some of the other components of Rogers’ compensation package as disclosed by the company:
An annual bonus of up to 225% of salary with mandatory deferral of at least 50% of bonus into shares deferred for a two-year period.
A long-term incentive plan award of up to 300% of salary, based on performance as measured over a five-year period.
A cash allowance of 10% of salary in lieu of pension.
A benefits allowance of nearly $40,000 per year to cover health, risk and other benefits.
Compensation of equivalent value for share-based and cash incentives that will be forfeited on his departure from Sainsbury’s.