Dairy Crest boss in £1.2 million bonus row
The boss of a dairy company that closed its Shropshire operation in a cost-cutting measure is in line to receive a £1.2 million bonus.
According to the Unite union, Dairy Crest chief executive Mark Allen stands to receive the bonus as part of the transformation of the business.
Dairy Crest has denied that the bonus, which would come in the form of shares over two years, is dependent on the £80 million sale of its dairies business to Market Drayton-based yoghurt giant Muller Wiseman.
Those proposals are under investigation by the Competition and Markets Authority, but are expected to conclude by the end of the year.
Dairy Crest said the bonus would be awarded based on the company's overall performance.
But Unite officer Matt Draper said: "Dairy Crest boss Mark Allen is the fat cat that got the cream – this is rank hypocrisy given that the management has offered its 3,000-strong workforce a miserly pay deal for this year.
"He stands to receive this bonus, according to media reports, on completion of the takeover."
Dairy Crest recently completed the closure of its former factory at Crudgington, near Telford, where at its peak the company employed hundreds of workers.
In a statement, Dairy Crest said: "Dairy Crest is going through a period of significant change.
"Mark Allen is uniquely placed to lead Dairy Crest through these changes. If successful, he will receive a payment in shares at the end of 2017, the details of which are clearly set out in Dairy Crest's Annual Report.
"Dairy Crest's shareholders showed their strong support for Mark and approved these arrangements at the extraordinary general meeting in December 2014."
