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Occupy London targets UK’s highest paid FTSE CEO

 

Occupy London – part of the global movement for social and economic justice – today highlighted the corporate greed endemic in the UK and called for a change within society.

About 60 protestors gained entry into the offices of mining company Xstrata, a ‘leading light’ of the FTSE 100 and British industry to highlight the fact that CEO Mick Davis was the highest compensated CEO of all the FTSE 100 companies in the last year, when his companies had losses and the economy collapsed. He received £18,426,105 for his efforts. [1]

This comes in a year when the average pay rise of executives across FTSE 100 companies was 43%, with ‘top’ directors at 49%. [2]

Led by a samba band to the building from Piccadilly Circus, the protesters entered the HQ at 25-7 Haymarket, London, with the protesters chanting against the corporate greed of Mick and other executives, in support of all those striking for fair pensions for all today. The protestors also unfurled a banner saying “All power to the 99%” from the roof top.

There are currently about 20 protesters inside – being held down on knees, of which many are women. There are a few hundred people kettled outside.

The protesters today are making the connection between the slashing of private and public sector pensions, while supposed ‘top’ executives cash in by increasing their own pay levels, leaving many without pensions.  These CEOs like Mick Davis lavishly secure their own futures while ignoring the security and wellbeing of their own workers.

Mines have closed in Australia, South Africa and Spain within the last decade resulting in hundreds of workers in the last decade being laid off.

Karen Lincoln, supporter of Occupy London said: “Mick Davis is a prime example of the greedy 1 per cent, lining their own pockets while denying workers pensions. In this time when the government enforces austerity on the 99 per cent, these executives are profiting. The rest of us are having our pensions cuts, health service torn apart and youth centres shut down.

“We refuse to stand by and let this happen. We call on others to join us in the fight for a more just society. Today we have taken this to one of the offices of the 1 per cent. This is only the beginning. Come and join us on 15th December for Occupy Everywhere.”

Occupy London will unveil details of Occupy Everywhere soon. Be ready.

Notes

[1] According to the Income Data Services, Mick Davis from Xstrata (mining company) was the highest paid executive in the FTSE 100. His company has recently taken severe hits as FTSE 100 companies face drop in value (£104 billion off FTSE 100 companies). He was paid £18,426,105. LONDON OFFICE: Registered Office, 4th Floor 25/27 Haymarket, London SW1Y 4EN

Highest paid executives in the FTSE 100:

1. Mick Davis, Xstrata, £18,426,105

2. Bart Becht, Reckitt Benkiser, £17,879,000

3. Michael Spencer, ICAP £13,419,619

4. Sir Terry Leahy, Tesco £12,038,303

5. Tom Albanese, Rio Tinto £11,623,162

6. Sir Martin Sorrell, WPP Group £8,949,985

7. Todd Kozel, Gulf Keystone Petroleum £8,913,223

8. Don Robert, Experian £8,601,984

9. Edward Bonham Carter, Jupiter Fund Management £8,003,641

10. Dame Marjorie Scardino, Pearson £8,003,641

[2] http://www.independent.co.uk/news/business/news/business-as-usual-top-directors-get-49-per-cent-pay-rise-2376929.html

[3] Facebook page for Occupy London’s Stock Exchange site just by St Paul’s (OccupyLSX) is https://www.facebook.com/occupylondon. Overall Occupy London twitter Occupy Londonhastag is #occupylondon. OccupyLSX Twitter is https://twitter.com/#!/OccupyLSX ; hashtag#occupylsx. Twitter for the new Finsbury Square site is https://twitter.com/#!/OccupyFS; hastag #occupyfs. Twitter for Bank of Ideas is http://twitter.com/bankofideas and facebook is http://facebook.com/bankofideaslondon

 
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