According to information obtained by News, Compass is in discussions with its largest institutional shareholders regarding significant increases to the yearly bonus and long-term share award that it can provide to Dominic Blakemore, its CEO since 2018.
According to sources close to the City, Compass is planning to raise the LTIP (long-term incentive plan), which has a maximum annual grant value of around £4.6 million, as well as the annual bonus, which pays out a maximum of £2.3 million to Mr. Blakemore.
It is reported that a weeks-long consultation process with top investors has taken place in preparation for a vote on the company’s updated compensation policy at the annual meeting in February of next year.
The consultation also addresses the compensation package that Compass’s group chief operational officer, Palmer Brown, and chief financial officer, Petros Parras, can access in North America, where the business currently makes two thirds of its sales.
Mr Blakemore earns a basic salary of £1.16m, having been given a 5.9% raise which took effect on 1 January.
He received about £7.5 million in compensation last year, which is more than twice what he made the year before.
