Home Business News Persimmon boss to leave over his controversial pay deal

Persimmon boss to leave over his controversial pay deal

by Purvai Dua
7th Nov 18 9:31 am

The boss of Persimmon, Jeff Fairburn, is leaving the property firm over his controversial £75m pay deal. Fairburn will be leaving “by mutual agreement and at the request of the company”, according to a statement to the London Stock Exchange, and will depart his role at the end of the year.

This comes just days after Fairburn walked away from a BBC interview when asked about his pay. He had then told the reporter: “I’d rather not talk about that.”

The company has now clarified: “Jeff has been a successful leader of the business since his appointment in 2013, but the board believes that the distraction around his remuneration from the 2012 LTIP scheme continues to have a negative impact on the reputation of the business and consequently on Jeff’s ability to continue in his role.”

“Given the continuing distraction around the scale of his remuneration resulting from the 2012 LTIP, the Board believes that it is now necessary for there to be to be a change of leadership,” said Roger Devlin, Persimmon’s chairman also added.

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