Flutter chairman defends pay rises for company bosses

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Flutter Entertainment had justified the salary increases for its CEO and CFO on the basis that plans for a new long-term incentive plan for top executives had been postponed.

The move follows Flutter's decision to increase the basic salaries of its chief executive by 26% and its chief financial officer by 20%.

"I think the response to the remuneration resolution was extremely good," Mr McGann told the media after the meeting, describing it as a good outcome. The rise in salary brought CEO Peter Jackson's basic pay to £1.17m and CFO Jonathan Hill's to £715,000. Olwyn Patterson, representing the 1,000 members of the Trinity College Student Managed Fund, said they were not happy.

Responding to her questions, Gary McGann said the vast majority of people who engaged with Flutter's products do so safely and for entertainment purposes and that just 0.3-0.7% of the entire population are problem gamblers.

 

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