The Guardian reports Highfield received £1.65m in pay in 2014, including a £645,000 bonus, more than triple the £592,000 he was awarded in 2013. The company’s remuneration committee also granted him a pay rise of almost 7.5%, or £26,000, from £404,000 to £430,000 for 2015. Johnston Press reported a pre-tax loss of £23.9m last year. Underlying profits rose from £54m to £55.5m. Highfield received a £483,000 annual bonus, including cash and a deferred element that became due after three years, for hitting a number of performance targets, such as increasing digital revenue by 20% from £24m to £28.8m, and growing the company’s digital audience by more than 30%. He also received an additional bonus for reducing the company’s debt from £302m to £184.6m, and further compensation from a share performance package, equivalent to 125% of his initial salary, which vested last year.
Received £1.65m pay in 2014
- Highfield resigns from Johnston Press
- Johnston Press reports £300m pre-tax loss
- Wins Daily Mail printing contract
- Crystal Amber pushes for Highfield exit
- Defends bond buybacks
- NUJ: Highfield 'living in cloud cuckoo land'
- Reviews Sky TV ad sales deal
- Writes off half the value of newspaper properties
- Sells Isle of Man titles
- Comments on post-Brexit newspaper sales increase