BAE boss Charles Woodburn sees pay rocket to £13.5m

Pay rise: BAE boss Charles Woodburn earned £13.5m in 2023, up from £12m the 12 months earlier than

The boss of Britain’s greatest defence firm scooped his greatest pay cheque final 12 months – taking his whole earnings to virtually £50million since turning into chief govt in 2017.

BAE Systems chief govt Charles Woodburn was handed £13.5million in 2023, up from £12million the 12 months earlier than.

That took his whole earnings to £46million – placing him among the many highest-paid Footsie bosses.

AstraZeneca chief Pascal Soriot acquired £16.9million final 12 months, whereas Erik Engstrom, of information analytics Relx, took dwelling £13.6million and GSK boss Dame Emma Walmsley landed £12.7million.

Fat cat pay has been excessive on the City’s agenda, with David Schwimmer, chief govt of the London Stock Exchange Group (LSEG), saying that UK firms ought to reward executives extra to compete with US companies.

LSEG is canvassing shareholders to approve a brand new £11million pay deal for Schwimmer – double his £6.25million in 2023.

Since Woodburn has been in cost, BAE shares have risen to 1272p, from 631.5p in 2017.

It has cashed in on geopolitical tensions and, this 12 months, it donated its M777 howitzers to Ukraine.

Nato members are being urged to honour their commitments, with Woodburn backing the US’s requires European nations ‘to increase defence spending to at least the 2 per cent target’.

He mentioned Nato’s management had made it clear that the goal was ‘a minimum and not a maximum’.