Johnston Press annual report: Highfield could receive £480k bonus if he hits all targets in 2012

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The Johnston Press annual report for 2011 has just been published. The remuneration report reveals that outgoing chief executive John Fry received £833,000 in pay and benefits up until his 'retirement' on 31 October and it notes that he remained an employee until 7 March and was entitled to benefits as a 'good leaver'. The size of his pay-off is not revealed but should feature in next year's report.Ashley Highfied, who replaced him on 1 November, received £115,000 in pay and benefits for his two months' work including £67,000 basic salary, £26,000 bonus and £20,000 pension contribution. His basic salary for 2012 will be £400,000 – which is said to be the fifth year in a row that salaries for executive directors have remained unchanged. If Highfield hits all his targets he will be entitled to a 120 per cent bonus in 2012 – which would bring his pay and bonus to £880,000 not including pension contributions and other benefits. Chief operating officer Danny Cammiade was the second best paid Johnston Press employee in 2011, earning £802,000 in pay, bonus, shares and other benefits. His basic salary was £324,000 and will remain at that level next year.

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