Motorpoint slashes bonuses for top bosses
03 July 2024
After reporting a £10.4m pre-tax loss in the year ended March 2024, up from £300k in the previous year, Motorpoint has slashed the bonuses of its CEO Mark Carpenter and CFO Chris Morgan.
Carpenter’s pay fell from £808k to £636k, and his bonus dropped from £140k to £37k. Morgan’s pay fell from £572k to £465k, and his bonus was slashed from £102k to £27k.
Renumeration committee chair Mary McNamara said that due to economic headwinds, “our financial targets [were] not met for the FY24 annual bonus”.
In a separate filing, Carpenter has been granted another 193k shares under the Motorpoint performance share plan, taking his total number of options up to 720k, or 0.81% of the firm. Morgan received 145k of options, meaning his holding is now 0.54% of issued share capital.
Motorpoint shares closed last week at 141p.
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