£14.8m payout for Diageo chief

<p>Former Diageo chief Paul Walsh earned £14.8 million in his last year at the firm.</p>

The former chief executive of Diageo Paul Walsh earned £14.8 million in total during his last year working for the firm, its latest financial figures have revealed.

It was announced by the company that his pay was boosted by an 80 per cent rise in the value of Diageo shares, while incentive plans linked to the company's performance also contributed.

Chairman of the company's remuneration committee Lord Davies of Abersoch explained that the firm has "delivered exceptionally strong three-year total shareholder return performance".

Despite the £14.8 million pay package for Mr Walsh, he was still not the best paid chief executive in the UK, reports BBC News.

It was noted that the chief executive at fashion house Burberry, Angela Ahrendts, earned almost £17 million in total in the last year.

Following the release of the financial data, the share price of Diageo is slightly up during this morning's (August 13th) early trading.

At 08:28 BST, its stocks were selling 0.36 per cent higher than at the start of the session.

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