Published on 2 - June - 2009
Homebase boss misses bonusTough year for Home Retail Group hits chief executive Terry Duddy in the pocket.
Home Retail Group chief executive Terry Duddy
Terry Duddy, the chief executive of Homebase and Argos owner Home Retail Group, saw his pay fall by more than half in the year to February 28, 2009 as he missed out on a performance-related bonus.
Mr Duddy's pay decreased by more than £900,000 last year to £858,000 from £1.77m the previous year, according to Home Retail's annual report.
The cut reflects the fact that, over the year, like-for-like sales at Argos fell by 4.8%, while sales at Homebase dropped 10.2%, which amounted overall to a loss before tax of £394.2m compared with a profit of £426m the previous year.
No other directors have received bonuses and the company has frozen executive pay for the current financial year.
DIYWeek.net does not edit comments which are submitted directly by our users to express their own views. Please report abuse of our comment system here.
© Datateam Business Media Limited 2009. DIY Week.net news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.