Brexit Is Making Wealthiest U.K. CEOs Richer

by Dramelin 12:30 AM 0 comments

Brexit is about to make CEOs of some of Britain?s biggest public companies a whole lot richer. Average U.K. pay increases will drop to 2.2 percent for 2017, according to an annual survey published by the Bank of England, a figure that won?t keep up with inflation. Brexit BoostBut shareholders? sway over Brexit-induced pay rises is limited since management usually only consult them when making changes to compensation policy, whereas pay rewards are linked to long-term incentive plans. British equities got a boost since the June vote because the likes of Rio Tinto Plc, Smiths Group Plc and WPP Plc generate most sales abroad and earn a fortune when they convert these revenues back into the weakened pound. WPP shares have risen 17 percent since Brexit, outpacing the 13 percent advance for the FTSE 100 Index.