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The FTSE100 boss has paid less than the price for a cup of coffee in the last three years

The boss of technology giant FTSE 100 Avast has paid less than a cup of coffee in the last three years

The FTSE 100 boss has been receiving less than the price of a cup of coffee for the past three years.

Unlike his high-paying counterparts, Ondrej Vlcek, who became CEO of the technology giant Avast in 2019 has since received just $ 3 (£ 2.38) salary.

The 44-year-old Czech has given up his salary and bonuses other than a nominal $ 1 a year. He donated his $ 100,000 annual board fees to charity.

On the cheap: Ondrej Vlczek, who became CEO of technology giant Avast in 2019, has since received just $ 3 (£ 2.38)

Avast’s annual report shows that it has waived a salary of $ 1.5 million and bonuses of $ 1.75 million. During this period, he donated $ 250,000 to charity.

Vlcek, who joined Avast as an intern at the age of 18, drew inspiration from Silicon Valley executives who took a year’s salary and focused on rising stock prices.

He said it was “fair” that his wealth should grow in line with the company’s wealth.

Although he gets almost nothing, he and his family fund hold $ 135 million in shares.

Last year, the board of a Czech cybersecurity firm listed on the London Stock Exchange agreed to sell it to US giant Norton Lifelock for $ 8 billion.

The deal estimates Vlcek’s share at $ 172 million to $ 200 million.

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The FTSE100 boss has paid less than the price for a cup of coffee in the last three years

Source link The FTSE100 boss has paid less than the price for a cup of coffee in the last three years

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