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Every little helps – at least for BT's chief

TWO of the FTSE's biggest bosses have banked rather different pay packets, it has been revealed.

BT chief executive Ian Livingston saw his package leap to almost £9.1m against £7.7m a year ago.

Tesco head Philip Clarke received no bonus for the second year running at the troubled store.

Livingston's short-term pay and perks fell slightly on a year ago to £2.4m.

He picked up a basic salary of £925,000 and a cash bonus of £1.2m, or 129% of base salary.

He also pocketed shares worth £653,000 that vested after three years.

But his biggest windfall came from a long-term incentive share plan which is worth almost £6m.

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BT pointed out it was only the second time the ISP had paid out in full after a strong performance from the telecoms giant, whose shares have reached a six-year high.

Livingston's 2012 package included an additional £1.2m that he will receive in three years' time, so long as he stays in the job. Clarke pocketed £1.17m, following the supermarket giant's statutory pre-tax profit falling from £4bn to £1.96bn last year.

Tesco announced that Tim Mason, the chief executive of its failed United States business, walked away from the job with nearly £3m last year. This came despite Fresh & Easy decimating the grocer's bottom line.


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