Devro's two executive directors failed to achieve a bonus for the second successive year, according to the company's annual report published yesterday.
Chief executive Peter Page saw his total remuneration fall by 9.7 per cent to £498,000, as there was no repeat of a £56,000 long-term incentive payment the previous year, while his salary was rose by £3000 at £452,000. Finance director Simon Webb picked up a £6000 rise in salary to £290,000, but his total payout slipped from £358,000 to £320,000, shorn of the £45,000 incentive top-up in 2013. The firm paid no bonuses to the executives, as in 2013, because operating profit of £30.3m was £12m below the minimum target, and its lowest in five years, while cashflow at £52m was £4m adrift of the threshold for bonus payment.
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