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

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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