Baker misses out on performance payment
Boots chief executive Richard Baker missed out on a potential bonus ofÂŁ644,000 last year, according to the company's annual report.
He failed to pick up the lucrative reward after the high street health and beauty giant issued a surprise profit warning in March and Baker failed to meet several personal targets.
Baker's total package was more thanÂŁ1 million, a drop of 6 per cent on the previous year and was bolstered by aÂŁ200,000 payment in lieu of missing out on bonuses when he left Asda in 2003 and aÂŁ151,000 relocation fee after he moved his family from Yorkshire to Lincolnshire.
In future, Boots directors will have to invest between a quarter and a half of bonuses in Boots shares, with an additional performance-related company contribution rising to as much as double the director's stake if earnings per share beat inflation growth by 8 per cent.
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