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Birmingham Post
Birmingham Post
Business
Owen Hughes

Moneysupermarket boss Mark Lewis gets pay hike ahead of departure from the Flintshire company

Departing Moneysupermarket boss Mark Lewis received an almost £90,000 larger pay packet last year as he helped drive the firm to bumper profits.

Last month, Mr Lewis announced plans to step down from the Flintshire based business after boosting pre-tax profits by 8.5% to £116 million for 2019.

The company's latest annual report said that the chief executive officer received a £1.24 million pay deal for the year, up 7.6% from £1.15 million in 2018.

His salary increased to £551,400 for the year from £540,600 in 2018, although he also received a smaller bonus payment.

However, his pay package was particularly boosted by a £104,257 payout from his long-term incentive plan.

Mr Lewis helped drive an improvement in performance over the year which helped increase company share value by around 24%.

Last month, Moneysupermarket also reported a 9% increase in revenue to £388.4 million on the back of strong growth in its home services arm, which includes energy switching.

It added that a recruitment process is currently under way to identify Mr Lewis' replacement.

The report also revealed that Scilla Grimble - who was appointed chief financial officer in February 2019 - received a total pay deal of £1.17 million for the year.

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