Andrew Page, the former chief executive of The Restaurant Group, was paid £4.5m by the company in his final year.
TRG’s annual report reveals that for his role as an executive director, Page was paid salary and fees of £410,000 for the year from 29 December 2013 until he stepped down on 31 August 2014. He received long-term incentives to the value of £3.5m. For the 2013 financial year he was paid £3.8m.
New chief executive Danny Breithaupt was paid a total of £913,000 for the period after he was promoted on 1 September 2014.
Page’s long-term incentive plan for 2014 breaks down into £1.8m of value of vesting award at grant, with a £1.5m increase in value due to share price rise and £165,000 dividend equivalent.
From 1 January 2015, Breithaupt’s base salary was set at £480,000 - 27% lower than Page’s base salary of £615,000 at the point he stepped down.
