John Langlands cashes in on strong BPI showing

JOHN Langlands, chief executive of Greenock-based plastics group British Polythene Industries (BPI), saw his pay package rise by more than 13 per cent last year after the company achieved strong profits growth.

Langlands received a 119,000 bonus and a further 152,000 was allocated under a share matching plan on top of his 340,000 salary. With benefits his total package rose to 634,000 from 558,000 the previous year, BPI's annual report revealed.

Finance director David Harris received bonuses of 132,000 as part of a 326,000 package, up from 229,000. Executive chairman Cameron McLatchie received a 275,000 salary as part of a 383,000 package, down from 290,000. Of the board's non-executive directors, Hamish Grossart received the highest fees at 60,000.

Last month, BPI said it had given shares worth 530,000 to senior staff members under incentive schemes, including the share matching plan where free shares are awarded depending on performance. Profits increased by 42 per cent in 2010 after the company achieved price rises and sold two former factory sites.