M&C's Wilson gets 50% rise as profit falls

Millennium & Copthorne Hotels boss John Wilson was awarded a 50% increase in his pay packet last year despite a 70% decline in pre-tax profit across the group.

Wilson's salary was boosted by a £331,000 bonus as a thank-you for his "outstanding contribution to the group since his appointment in 1998", taking his total payment for the year to just less than £1m. He retired on 1 March.

The former chief executive earned a massive £996,000 in 2003, compared with £666,000 a year earlier. He also cashed in shares worth £150,000.

The second highest paid director at Millennium & Copthorne was chief operating officer Tony Potter, who has taken over the reins of the company as joint interim chief executive with executive director Wong Hong Ren.

Potter saw his total payments increase by 6.5% to £346,000, compared with £325,000 in 2002.

Source: Caterer & Hotelkeeper magazine, 15 - 21 April 2004