Weir Group chief executive Keith Cochrane
WEIR Group chief executive Keith Cochrane’s remuneration tumbled from £1.46 million to £1.07m in 2015, with his annual bonus falling sharply as the engineering company’s profits tumbled.
Mr Cochrane’s annual bonus fell from £665,564 to £225,000, a payout which Weir says was 20 per cent of the “maximum bonus opportunity”.
Finance director Jon Stanton’s remuneration fell to £630,027 last year, from £821,811 in 2014.
Weir Group’s underlying pre-tax profits fell by 46 per cent to £220m in 2015, caused in large part by reduced activity in the North American shale oil and gas sector.
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