Criticism of Peter Lawwell.

Chief Executive - Celtic FC by the Board of Directors - 2016 Annual Report.


"Mr Lawwell’s service contract commenced on 25 October 2003.

It continues subject to twelve months’ notice by him to the Company

or by the Company to him. For the financial year to 30 June 2016,

Mr Lawwell continued to be entitled to a maximum payment under the

Company’s bonus scheme of 60% of basic salary, if all performance

conditions were satisfied. Mr Lawwell served on the Professional Game

Board and the Board of Directors of the Scottish Football Association

and the Board of the European Club Association during the year. No fee

is payable for these posts."

He gets his bonus even if we don't make the CL the *

60% bonus most of us are happy with 6%

 

What direction is he getting from the shareholders ?

Where is DD and shareholders in all of this, surely they must be held accountable just as much as Peter the *
I can’t see that one man can just do what he wants and everyone else goes aye goodyin

 

Aye - but he's only on minimum wage

 

As of the 2017 accounts lawwells terms had changed


Chief Executive - By Appt of Board-


Mr Lawwell’s service contract commenced on 25 October 2003.

It continues subject to twelve months’ notice by him to the Company

or by the Company to him. With effect from 1 July 2016, Mr Lawwell

was entitled to a bonus not exceeding 20% of basic salary, determined

by the Board having regard to applicable performance criteria and such

other factors and/or circumstances as the Board shall consider relevant.

In addition, given the importance of the Chief Executive to the consistent

and successful performance of the Company in the medium to long

term, the Board determined that the Chief Executive shall participate in

a Long Term Performance Incentive Plan (“LTPIP”), the purpose of which

is to link the continuing service and performance of the Chief Executive

to performance targets which have the objective of improving Company

performance, the football performance of Celtic FC and generating

shareholder value. The Remuneration Committee was satisfied that the

awards set out in the table below have vested for the benefit of

Mr. Lawwell during the financial year to 30 June 2017. The vesting

criteria determined by the Board are: (i) that the participant is employed

by the Company at the end of the relevant vesting period; and,

separately, (ii) that Celtic FC qualifies for and participates in the group

stages of the UEFA Champions League in the applicable financial year.

The initial vesting period for the LTPIP is from 1 June 2016 until 31

December 2018 and should the Chief Executive remain employed by

the Company there is a further vesting period from 1 June 2019 until

31 December 2021 with equivalent vesting conditions. Payment remains

subject to the operation of the LTPIP conditions.

He got a £574,571 basic wage rise in 2017-2018 so his basic is now £1.15m excluding the LTPIP bonus in comparison to the 2016-2017!!!

The LTPIP which means rather than a yearly bonus its over a set period of time (in this case 4 years) so in theory his basic has doubled and he will be due a 4 year bonus at the end of the LTPIP if he is still employed!!!

 

In short folks Peter Lawwell has went from basic of

£575k per year basic in 2015-16
£1.15m per year basic in 2016-17

With the same BIK

But the carrot of long term bonus of 20% over 4 years per season so whilst his bonus has come down 40% per season his basic has went up by over double

 

I suggest you re-read it.

 

I have never had experience on LTPIP but his basic is up in the accounts and my interpretation of it is a deffered bonus of 20% as long we meet performance criteria

 

Explain it ya ponce man

 

if you could explain for me also Tim-time as I have no experience of the plan we have approved.

His bonus per season has been replaced by a basic wage increase and he is due a bonus at the end of the agreed term from what I read and anyway you look at it he is still taking over £1.15m per season from the club.

 

Worth every penny, we should name a stand after him.

 

Why just a stand * it call the stadium after him the "We Tried" arena!

 

The Dafabet Arena..

 

Can he play centre-back?

We might need him to at this rate.

 

Liverpool, Tottenham and Manchester United are the only clubs in Britain who pay their CEO a higher salary than what Peter Lawwell gets.

Can't afford Premiership wages, but.

 

* sake! And we can’t pay a living wage as well!

 

That’s plenty.

 

Couldn’t get it over the line park maybe?

 

He was given a 104% increase, according to the 2017 accounts.

http://cdn.celticfc.net/assets/downloads/Celtic_Annual_Report_2017_Web.pdf (Page 23 or 26)

 

Sorry so it was over 100% INCREASE my mistake