Tuesday, July 12, 2016

Smaller checks

As we wait for Anne Bulford's big day - the numbers in the BBC's Annual Report - time to reflect on the career of one of her predecessors, John Smith.

John was in a range of finance roles at the BBC for 23 years, leaving in 2012 to join fashion house Burberry, as Chief Operating Officer - he'd already been with the company as a non-exec, apparently allowed when he was CEO of BBC Worldwide.

John salary package at Burberry, for 2014/15 was just over £1.5m. For 2015/16 it was down to a mere £810k. He had backed Burberry's move into skin care and a digital future, without much impact on the company's falling share price. He resigned in June, saying “Having been the CEO of a fast-growing international business in the past, I am exploring a number of exciting new leadership opportunities in that arena". Burberry's CEO and Creative Lead Christopher Bailey took home 75% less this year than the previous year, and now a new CEO has arrived in the shape of Marco Gambetti.

John, 58, will still, of course, have the benefit of his BBC pension.

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