Cairn Energy boss breaks through £1m pay

Cairn Energy chief executive Simon Thomson bagged a remuneration package worth £1.1 million last year, up from £867,000 the year before.

Chairman Sir Bill Gammell was paid £226,971 after receiving a £1.8m payout the previous year, including a “loss of office” payment. Cairn’s remuneration committee said it recognised that a “significant proportion of shareholders voted against” its 2011 remuneration report and that this was “fully appreciated”.

The firm added that Thomson would get a 6.3 per cent rise in his base salary this year reflecting his “progress”.