Entain CEO saw pay packet slip by 25% in 2022
Jette Nygaard-Andersen awarded £1.9m in remuneration as firm highlights efforts to reduce median gender pay gap across the group
Entain CEO Jette Nygaard-Andersen took home £1.9m in salary and bonuses in 2022 after the Dane led the operator to a stellar full-year 2022.
Nygaard-Andersen was paid a base salary of £820,000, representing a 15% increase on the £708,000 base she was paid for 2021.
The CEO then netted a whopping £1m annual bonus plus an additional £36,000 in benefits and £49,000 in pension payments.
Nygaard-Andersen’s total pay packet for 2022 was down by 24.9% on her 2021 remuneration of £2.53m.
Elsewhere, CFO and deputy CEO Rob Wood was paid £2.54m for his 2022 performance which included a £1.4m payment as part of Entain’s long-term incentive plan (LTIP).
Wood received a base salary of £538,000, which was topped up by an annual bonus worth £525,000 and a combined pension and benefits payment of £40,000.
Chief governance officer Robert Hoskin also broke the £2m pay packet barrier after netting £2.06m for his efforts in 2022.
Similarly, to Wood, Hoskin’s remuneration was bolstered by a £1.2m LTIP payment.
Hoskin was paid a base salary of £410,000 plus a £400,000 annual bonus.
Entain also confirmed the trio were in line for a 3% base salary increase in 2023.
The increase will see CEO pay go up to £844,600, while CFO pay will jump to £554,300 and CGO salary will rise to £422,300.
The FTSE 100 firm also readjusted its annual bonus performance metrics for 2023.
Moving forwards, annual bonuses will be determined by growth in underlying group operating profit (65%) andnet gaming revenue (NGR) growth including BetMGM (20%), and hitting targets for safer gambling (20%) and customer satisfaction (5%) measures.
Elsewhere, Entain detailed its efforts it had made in reducing the gender pay gap at the company.
In the UK, the median hourly pay gap was reduced to 3.2% in 2022 compared to 5.3% in 2021.
Entain said this compared favourably to the national average gender pay gap which sits at 14.9%, according to the Office for National Statistics.
However, the mean gender pay gap at Entain increased to 16.9%, up from 16.2% in 2021.
At a group level, 47% of employees are female, a rise from 45% in 2021. Despite this growth, the percentage of women in management positions fell from 38% to 37%.