Daily Mail bosses see pay falling

THE chairman and chief executive of the company behind the Daily Mail and Metro newspapers have seen their pay packages fall after the firm failed to hit profit targets.

Chairman Lord Rothermere saw his remuneration package – which includes his salary, fees, cash allowances and bonus – fall to £1.17 million for the year to 2 October from £1.31m.

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Chief executive Martin Morgan was paid a total of £1.08m, down from £1.29m, after the company’s adjusted pre-tax profit of £237m was “slightly below target”, despite representing a 3 per cent year-on-year rise.

Rothermere got a bonus of £147,000, equal to 80.4 per cent of his salary, compared with a potential bonus of 200 per cent. Morgan’s bonus of £176,000 was equal to 60.3 per cent of his salary, out of a possible 100 per cent.