Endeavour mining boss saw pay halved last year – to £9m
Endeavor mining boss saw wages cut in half last year but still took home nearly £9million
The Endeavor Mining boss saw his salary more than halved last year, but still took home nearly £9 million.
Sebastien de Montessus, 48, who has led the prospector since 2016, was paid £8.9 million last year – less than the £18.8 million handed to him in 2021.
The Frenchman received the bumper package two years ago as a reward for the company successfully shifting its primary listing from Canada to London.
Salary cut: Endeavor Mining boss Sebastien de Montessus, who has led the gold miner since 2016, was paid £8.9 million last year
More than 80 percent of his salary is weighted by performance.
Last year, Endeavor entered the FTSE 100 index. Profits from West Africa’s largest gold producer fell 68 percent to £120 million last year due to a one-off impairment charge.
It returned £248 million to shareholders in 2022 through dividends and share buybacks.
Prior to Endeavor, the Montessus mining investment company ran La Mancha between 2012 and 2016.
Other blue-chip bosses have taken home millions. Education group Pearson paid its boss Andy Bird £7 million last year.
This month, the group said it would not rule out a move to Wall Street. It makes more than 60 percent of its sales in the US.
Bunzl, which supplies products such as paper napkins and latex gloves, handed its CEO Frank van Zanten £4.5 million in 2022.