The fat cat pay scandal has spread to Bisichi, a small London-listed coal mining company where Tory donor Sir Michael Heller is the chairman and his son Andrew is the chief executive.
Heller junior was paid just under £900,000 last year – nearly 10 per cent of the firm’s entire £11 million stock market value.
If Apple boss Tim Cook was paid the same proportion of the US company’s value, he would pocket about $90 billion a year.
Sir Michael (left) and his son Andrew Heller who was paid just under £900,000 last year – nearly 10 per cent of the firm’s entire £11 million stock market value
Andrew Heller has been paid nearly £8 million in a decade.
His property tycoon dad also controls a company called Clerewell, which donated £50,000 to the Conservative Party during the 2017 Election campaign.
At Bisichi’s annual meeting on Wednesday, investors accounting for nearly 30 per cent of the shares voted against the pay report.
Paul Mumford, a fund manager at Cavendish Asset Management, which has an 18 per cent stake, said ‘outrageous’ pay is as prevalent at small firms as at larger ones.