Belfast Telegraph

UK Website Of The Year

Boss of Domino's Pizza trebles his pay following shares deal

The boss of Domino's Pizza has more than trebled his pay packet after taking delivery of a bumper shares award.

Chief executive David Wild saw his total pay leap by £3.2 million to £4.5 million last year after the vesting of a £3.5 million long-term incentive plan (LTIP).

Mr Wild was handed 947,652 shares when he was hired by Domino's in 2014, which he could not access for a period of time and were subject to certain performance targets.

He secured a full pay out through the LTIP last year after these goals were met, including beating the target for underlying earnings per share, which grew to 69.8%.

But his bonus fell by £256,000 to £413,091 for 2016, after securing 81% of his maximum possible payout for meeting "the majority" of his personal performance targets.

His pay has been frozen at £510,000 until 2019, while his bonus was trimmed to 100% from 150% of his annual salary after shareholders approved a restructuring of his pay deal.

It comes after Domino's announced a sharp slowdown in sales growth earlier this month amid stiff competition and lacklustre demand for its Winter Survival deal.

Annual results showed like-for-like UK sales rose by 7.5% in 2016 - down around a third on the 11.7% growth seen the previous year.

Fears over the group's UK market were compounded as Domino's also said sales growth had slowed even further since, to 1.5% in the first nine weeks of 2017.

Its UK woes took the shine off results showing underlying pre-tax profits rising 17.1% to £85.7 million, with group-wide revenues up 13.8% at £360.6 million.


From Belfast Telegraph