Latest news with #RobertSamuelson
Yahoo
27-07-2025
- Business
- Yahoo
Telecoms boss lands record £131m payday
The boss of a little-known UK telecoms business was handed a record £131m last year, marking the highest-ever package paid by a London-listed business. Eamonn O'Hare, who runs Zegona Communications, received a £129m bonus in 2024, on top of £2m in annual pay and benefits. The company's operations chief, Robert Samuelson, also took home a total package of £66m. By contrast, the average remuneration for an FTSE 100 chief executive last year was £4.2m. The lucrative pay awards were made after Zegona acquired Vodafone's Spanish arm for £4.4bn last year. Mr O'Hare and Mr Samuelson, both former Virgin Media executives, launched Zegona a decade ago to buy up struggling assets in the telecoms sector and turn them around. Zegona went public in 2015 with a float on London's AIM junior exchange, when it raised £30m. However, its value has since soared after undertaking a series of deals, buying up unloved assets and selling them on for profit. It took over Spanish regional telecoms business Asturias in 2015 in a €640m deal before later selling it for a considerable profit. Last year, Zegona also completed a deal for Vodafone Spain in a €5bn transaction amid a carve-up of the company's European divisions. Zegona said the deal was the 'culmination of three years of concerted efforts and exceptionally hard work' by its senior executives, which was reflected in 'key remuneration matters'. The company's pay structure rewards senior leaders with up to 15pc of the growth in value of Zegona's shares. The majority of the pay awards will take the form of stock. Zegona's annual report said its pay structure was 'non-standard in nature' but had been 'central to Zegona's outsize performance, driving unrelenting commercial focus and shareholder value creation'. The company reported revenues of €3bn and a loss before tax of €450m, which included acquisition costs. It has cut 28pc of Vodafone Spain's headcount since the deal went through last year. Mr O'Hare's pay deal makes him the best-paid chief executive of any London-listed company. Denise Coates, of Bet365, is currently the UK's best-paid chief executive, taking home £150m last year. The Sunday Times first reported the pay deals. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Telegraph
27-07-2025
- Business
- Telegraph
Telecoms boss lands record £131m payday
The boss of a little-known UK telecoms business was handed a record £131m last year, marking the highest-ever package paid by a London-listed business. Eamonn O'Hare, who runs Zegona Communications, received a £129m bonus in 2024, on top of £2m in annual pay and benefits. The company's operations chief, Robert Samuelson, also took home a total package of £66m. By contrast, the average remuneration for an FTSE 100 chief executive last year was £4.2m. The lucrative pay awards were made after Zegona acquired Vodafone's Spanish arm for £4.4bn last year. Mr O'Hare and Mr Samuelson, both former Virgin Media executives, launched Zegona a decade ago to buy up struggling assets in the telecoms sector and turn them around. Zegona went public in 2015 with a float on London's AIM junior exchange, when it raised £30m. However, its value has since soared after undertaking a series of deals, buying up unloved assets and selling them on for profit.
