Better Collective executives see significant rises in their pay packages
Bosses at Copenhagen-headquartered affiliate rewarded for strong 2021 growth and market-leading position in the US
Better Collective’s top three executives received a total remuneration package of €1.48m (£1.23m) in 2021, according to the affiliate’s end-of-year remuneration report.
The total remuneration awarded to both CEO Jesper Søgaard and CFO Flemming Pedersen jumped 26% year-on-year from €360,000 to €453,000, although COO Christian Kirk Rasmussen’s dipped 3% to €570,000.
However, the trio’s base salaries were all up considerably; Søgaard’s increased from €197,000 to €285,000, while Pedersen and Kirk Rasmussen’s leapt from €320,000 to €356,000 and from €197,000 to €285,000 respectively.
Søgaard received a cash bonus of €85,000 and warrants totalling €51,000. Pedersen’s bonus was slightly lower at €53,000 but he received a pension contribution of €57,000 and warrants totalling €104,000, which brought Pedersen’s overall remuneration to €570,000.
Rasmussen received the same total amount as Søgaard, with the exact same split between base salary, cash bonus, pension contributions and warrants.
The increases come after both the CEO and CFO waived their base salary in Q2 of 2020 due to the impact of the pandemic.
In February, Better Collective posted a 94% rise in revenue for 2021 to €177.1m, while EBITDA was up 46% on 2020 to €55.8m up.
US growth was pinpointed as the main highlight for the firm, which saw it purchase the rest of the shares in US DFS resource RotoGrinders in November 2021 and enter into a deal with the New York Post to provide betting content.
Elsewhere, Better Collective reported in January 2022 that revenue had more than doubled, of which 69% was organic, to €26m.