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Ocado boss Tim Steiner bags £54m bonus
Workers get sacked for shoddy work. Bosses get huge bonuses.expressman33 wrote: ↑Thu Feb 13 2020 4:29pmOcado boss Tim Steiner bags £54m bonus
The boss of online shopping company Ocado has bagged a £54m bonus, despite his firm posting a bruising £214.5m loss last year.https://www.bbc.co.uk/news/business-51469002
I wonder if the share price drops will he be required to pay back any of the bonus , I doubt it .pabenny wrote: ↑Fri Feb 14 2020 10:36amAs the linked article says, that bonus is the result of growth in the share price of Ocado over 5 years. It looks like he has increased the value of the company by more than £6 billion - and Mr Steiner has received a bonus of about 1% of that.
Ocado is now much more than the grocery business of that name. The growth in share price is largely because they now provide online shopping for Morrisons in the UK and eight other businesses around the world.
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