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Tue November 24 2020

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Severfield resumes executive bonus payments

6 Oct The directors of structural steelwork contractor Severfield have decided that they no longer need to go without their bonuses this year.

CEO Alan Dunsmore
CEO Alan Dunsmore

Executive bonus payments were deferred for the year ending 31st March 2020 because of the then-unknown impact of the coronavirus crisis.

However, Severfield got through the first wave of the crisis well enough to approve a final dividend for shareholders in financial year 2020. It also decided not to claim for support under any employee-related government support packages including the coronavirus job retention scheme.

As a result of the decision to resume executive bonuses, the directors have each been granted shares worth in the region of £100,000.

Chief executive Alan Dunsmore gets £109,000 worth of shares; COO Ian Cochrane £97,000; finance director Adam Semple £71,000; and executive director Derek Randall £92,000.

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MPU

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