Mining boss Endeavor saw his salary halved last year but still scooped nearly £9million
The Endeavor Mining boss saw his wages more than halve last year but still scooped nearly £9million.
Sebastien de Montessus, 48, who has run the gold miner since 2016, was paid £8.9m last year – below the £18.8m he was given in 2021.
The Frenchman received the exceptional salary package two years ago as a reward for the company’s successful transfer of its main listing from Canada to London.
Pay cut: Endeavor Mining boss Sebastien de Montessus, who has run the gold miner since 2016, was paid £8.9m last year
Over 80% of his salary is performance oriented.
Endeavor joined the FTSE 100 index last year. Earnings at West Africa’s biggest gold producer fell 68% to £120m last year due to a charge single depreciation.
It returned £248million to shareholders in 2022 through dividends and share buybacks.
Prior to Endeavour, de Montessus led mining investment firm La Mancha between 2012 and 2016.
Other top notch bosses have taken home millions. Education group Pearson paid its boss Andy Bird £7million last year.
This month, the group said it couldn’t rule out a move to Wall Street. It generates more than 60% of its turnover in the United States.
Bunzl, which supplies products such as paper towels and latex gloves, handed its chief executive Frank van Zanten £4.5million in 2022.