Troubled Kesa criticised for bonus payout

first_img Tags: NULL Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndo Troubled Kesa criticised for bonus payout KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proofcenter_img whatsapp KESA ELECTRICALS, the owner of TV and computer retailer Comet, has been criticised for handing its boss a £1m bonus for a period in which its share price and UK sales fell.Analysts described chief executive Thierry Falque-Pierrotin’s award as “sizeable” and said management was not doing enough to reassure investors that performance would pick up.Falque-Pierrotin took home total compensation of £2.1m for the year to 30 April, including a base salary of £891,000 and a reward of £971,900, according to Kesa’s annual accounts.His bonus was linked to pre-tax earnings, which bounced back from a loss of £81.8m to a profit of £69.6m. But questions were raised over the 6.2 per cent slide in Kesa’s share price, which fell to 125p over the year to April, and a 1.4 per cent drop in like-for-like sales at Comet.One analyst, who asked not to be named, said: “The jury is still out on the management. Kesa has a fantastic business with Darty in France but the problem is Comet in the UK. They need to come up with a plausible plan for that business.”Investors have particularly complained about scant details on Kesa’s preparations for combat between Comet and US technology retailer Best Buy, which opened its first UK store in Thurrock, Essex, in April.Matthew McEachran at Singer Capital Markets said: “Management needs to be more transparent. In this environment, investors want to see what performance is being targeted – when management doesn’t do that it’s very easy for investors to get frightened because you can’t see the route map to improved profitability.”In this context Falque-Pierrotin’s payout was “a sizeable amount”, McEachran added.A spokesperson for Kesa said Falque-Pierrotin had met the remuneration objectives set by the board. Show Comments ▼ whatsapp Wednesday 18 August 2010 8:30 pmlast_img read more