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Post by Seanybhoy1888 on Sept 21, 2010 22:16:20 GMT
I have previously on this site bemoaned the Chief Executives bonus for what in my opinion is failure. The accounts are now through and we see the remuneration for the year increased from £738,987 to £753,193. This excludes the LTIP. Mr Lawwell participates in the Long Term Incentive Plan (LTIP). The main objective of this is to retain and reward key executives. Having met performance criteria imposed by the board and remaining for a period of 4 years the award will be met. The Board acting through the remuneration committee sets the conditions. Although not stated they are said to be "challenging but achievable" with both personal and corporate performance elements. All very laudable for medium term stability however you will have noticed that there is no detail to these challenging but achievable targets. Mr Lawwell currently has £300,000 in the bank and only has to see it out to 30 June 2011 for payment. The Remuneration Committee, which determines the terms of engagement of the executive directors, company secretary and certain senior executives, comprises the following: Tom Allison, Brian McBride, Brian Wilson, John Reid and Brian Duffy Mr Lawwell also participates in the annual performance related bonus scheme. Unlike the LTIP we do have some targets defined this time: * Improving and sustaining the financial performance of the group from year to year * Delivering and enhancing shareholder value * Enhancing the reputation and standing of Celtic * Delivering consistently high standards of service to Celtic and its customers * Attracting and retaining and monitoring talented individuals. Mr Lawwell was entitled to £190,359 under this bonus scheme although magnanimously and for no apparent reason waived £38,071. This 20% waived is for 20% less points than last season (incredibly we finished just one point worse off)? 20% further behind Rangers? 20% reduction in quality of playing staff? You can guess. The Directors’ report confirms that the company monitors performance against the following key performance indicators: * Football success * Match attendance statistics * Sales performance per division * Wage and other costs * Capital expenditure * Profit and cash generation. Looking at the Company performance monitors as the LTIP criteria is not specified. * Football success Well I don’t think anyone could consider second in a two horse race a success * Match attendance statistics Average home league attendance down from 57,750 to 53,288 and the lowest for 5 years Season tickets down from 54,252 to 50,826 and the lowest for 5 years * Sales performance per division Merchandising revenue down 9.8%. Catering and Corporate. Although no figures for this in the Chief Executives report the phrase "particularly challenging" would lead one to suspect down. Partner Programme also described as "a tough economic environment" read into that what you wish however this is the Tennents deal, which has been widely discussed. * Wage and other costs A success!! Expenses down by £4.1m to £57.25m and wages down by £2.27m to £36.48m. Well success is debatable. The head count reduced from 508 to 454 so the average wage bill actually went up. * Capital expenditure Negligible and barely moved for 5 years * Profit and cash generation Turnover reduced by £10.87m or 15% to £61.72m Profit from trading reduced from £11.23m to £4.46m All things are relative and perhaps Mr Lawwell is paid the going rate. To allow comparison I have looked at the 2010 accounts of Scottish Power. A high profile Scottish based company although I’m sure no one could name the Chief Executive (its Nick Horler). 2010 figures: Celtic Scottish Power S.P. Factor over Celtic Turnover £61.72m £5,300m 86 Loss £2.13m £760.6m n/a Staff 454 10,000 22 Chief Executive Salary £507,625, Bonus £152,288, Benefits in kind £17,1326 Pension £76,144 Total £753,193 Salary £508,500, Bonus £266,700, Benefits in kind £26,800 Total £802,000 1.06 On this comparison he is more than handsomely paid the only comparison of the companies being the salary paid to the respective Chief Executives. Little wonder he sees his salary as off limits on his meet the punter tour. I could give my opinion on the current playing squad however it is only my opinion that we have a squad of mediocrity and the new signings are no better than the ones we had. It is criminal that we have not replaced McManus and Caldwell with anything better. Looking through the spine of the team we have a loan goalkeeper, perhaps one centre back although slow as slow and the rest still cannot displace Loovens. Brown still Brown and Kayal and Ledley had their worst games for us on Sunday. Murphy slow and in my opinion no better than Samaras. However my opinion is just that, my opinion. The facts regarding Mr Lawwell, his performance and his remuneration are facts. The company sets 7 performance criteria. All 7 have not been met yet this is deemed adequate to trigger a bonus. The remuneration was off limits at the punters tour. Hopefully Mr Lawwell, and those that determine performance and remuneration, will not escape scrutiny at the forthcoming AGM. www.celticunderground.net/index.php?option=com_content&view=article&id=438:lawwell-rewarded-for-failure&catid=45:season-2010-2011&Itemid=80
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Post by gerry on Sept 21, 2010 22:29:00 GMT
Comparison to Scottish Power :lol: genius.
Where's the comparison between a football club and a public utility ffs.
"Little wonder he sees his salary as off limits on his meet the punter tour." No ships Shylock. CEO's often discuss their salaries in detail when they are talking to people do they. I never knew that.
"I could give my opinion on the current playing squad however it is only my opinion that we have a squad of mediocrity and the new signings are no better than the ones we had. It is criminal that we have not replaced McManus and Caldwell with anything better. Looking through the spine of the team we have a loan goalkeeper, perhaps one centre back although slow as slow and the rest still cannot displace Loovens. Brown still Brown and Kayal and Ledley had their worst games for us on Sunday. Murphy slow and in my opinion no better than Samaras."
Might be better talking to Neil Lennon about that. It certainly has little to do with the accounts as most of that trading happened after the end of the financial year. Funny thing to put in a post about the 2010 accounts and the CEO's salary, as it will actually relate to next years accounts.
"A success!! Expenses down by £4.1m to £57.25m and wages down by £2.27m to £36.48m. Well success is debatable. The head count reduced from 508 to 454 so the average wage bill actually went up."
:lol: Great way to look for a way to spin things that is. We have reduced costs, but not really. I right.
Methinks the agenda was set before the accounts were examined.
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Post by Seanybhoy1888 on Sept 21, 2010 22:31:51 GMT
Who asked you Peter?
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Post by jasbhoy on Sept 21, 2010 22:32:42 GMT
I am willing to bet that these figures will INDEED escape scrutiny, to be fair PL is contracted to whatever he gets, whether we like it or not he's doing what he's paid to do, if the targets he is getting paid to achieve are wrong then the buck stops with DD.
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Post by gerry on Sept 21, 2010 22:36:45 GMT
Who asked you Peter? You, I had assumed. Peter Lawwell does his job. Other people we have employed have failed to do so. Hopefully sacking Tony Mowbray and bringing Neil Lennon in will put us back on the right track. I have always said, and stick by it. The CEO and board should run the Club. The Manager should run the Team. I hope we have the right people in charge of the team now to do a good job.
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Post by tictoc on Sept 21, 2010 22:45:04 GMT
Could not agree more,Sean.To be given a bonus for failure is disgraceful.We still have many fans who still defend this board.A board who let a Rangers team,on its knees with debt,win the last 2 leagues,depriving our club of £30 million in CL money.Money that would have ensured our biggest rivals would have been in no position to challenge us again for the foreseeable future,putting more money into our coffers.For this catastrophic failure,Lawell,and probably more should have been sacked,not given a bonus.Add on the lies he has told to the fans,with the old smoke and mirrors trick,some still believe,and his record should speak for itself.He and his cohorts have systematically downgraded our club,since O"Neil left.We are a joke in europe,where once ,not too long ago,we where respected.I hope at the next AGM he is slaughtered,but we will probably be top of the league,and he will be given an easy ride.Raging?.Who me?.
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Post by timtraveller on Sept 21, 2010 22:49:04 GMT
Lawell could have doubled his salary by moving to Arsenal. He knocked them back to stay at Celtic. For that alone the guy deserves a huge amount of credit, Be honest now, how many of us would knock back the chance to double our salaries?
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Post by singtim on Sept 21, 2010 23:26:43 GMT
i hope lawell and reid get punted at the end of the year
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Post by gerry on Sept 21, 2010 23:30:08 GMT
i hope lawell and reid get punted at the end of the year If they "get punted" it will be at the AGM surely. That would be when the vote takes place. I'm not sure about the Chairman's position, but that's when the Directors are re-elected.
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Post by themoch on Sept 21, 2010 23:52:27 GMT
i hope lawell and reid get punted at the end of the year be careful what you wish for .......
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Post by carson67 on Sept 21, 2010 23:55:02 GMT
It wasnt long ago we referred to PL as the SSM for his brilliance in reducing the debt and winning titles. Imo he shouldnt have been lauded to the extent he was and doesnt deserve the level of critic he receives..We have all heard the saying swings and roundabouts
HHMTH
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Post by torquaybobby on Sept 22, 2010 0:08:01 GMT
I have previously on this site bemoaned the Chief Executives bonus for what in my opinion is failure. The accounts are now through and we see the remuneration for the year increased from £738,987 to £753,193. This excludes the LTIP. Mr Lawwell participates in the Long Term Incentive Plan (LTIP). The main objective of this is to retain and reward key executives. Having met performance criteria imposed by the board and remaining for a period of 4 years the award will be met. The Board acting through the remuneration committee sets the conditions. Although not stated they are said to be "challenging but achievable" with both personal and corporate performance elements. All very laudable for medium term stability however you will have noticed that there is no detail to these challenging but achievable targets. Mr Lawwell currently has £300,000 in the bank and only has to see it out to 30 June 2011 for payment. The Remuneration Committee, which determines the terms of engagement of the executive directors, company secretary and certain senior executives, comprises the following: Tom Allison, Brian McBride, Brian Wilson, John Reid and Brian Duffy Mr Lawwell also participates in the annual performance related bonus scheme. Unlike the LTIP we do have some targets defined this time: * Improving and sustaining the financial performance of the group from year to year * Delivering and enhancing shareholder value * Enhancing the reputation and standing of Celtic * Delivering consistently high standards of service to Celtic and its customers * Attracting and retaining and monitoring talented individuals. Mr Lawwell was entitled to £190,359 under this bonus scheme although magnanimously and for no apparent reason waived £38,071. This 20% waived is for 20% less points than last season (incredibly we finished just one point worse off)? 20% further behind Rangers? 20% reduction in quality of playing staff? You can guess. The Directors’ report confirms that the company monitors performance against the following key performance indicators: * Football success * Match attendance statistics * Sales performance per division * Wage and other costs * Capital expenditure * Profit and cash generation. Looking at the Company performance monitors as the LTIP criteria is not specified. * Football success Well I don’t think anyone could consider second in a two horse race a success * Match attendance statistics Average home league attendance down from 57,750 to 53,288 and the lowest for 5 years Season tickets down from 54,252 to 50,826 and the lowest for 5 years * Sales performance per division Merchandising revenue down 9.8%. Catering and Corporate. Although no figures for this in the Chief Executives report the phrase "particularly challenging" would lead one to suspect down. Partner Programme also described as "a tough economic environment" read into that what you wish however this is the Tennents deal, which has been widely discussed. * Wage and other costs A success!! Expenses down by £4.1m to £57.25m and wages down by £2.27m to £36.48m. Well success is debatable. The head count reduced from 508 to 454 so the average wage bill actually went up. * Capital expenditure Negligible and barely moved for 5 years * Profit and cash generation Turnover reduced by £10.87m or 15% to £61.72m Profit from trading reduced from £11.23m to £4.46m All things are relative and perhaps Mr Lawwell is paid the going rate. To allow comparison I have looked at the 2010 accounts of Scottish Power. A high profile Scottish based company although I’m sure no one could name the Chief Executive (its Nick Horler). 2010 figures: Celtic Scottish Power S.P. Factor over Celtic Turnover £61.72m £5,300m 86 Loss £2.13m £760.6m n/a Staff 454 10,000 22 Chief Executive Salary £507,625, Bonus £152,288, Benefits in kind £17,1326 Pension £76,144 Total £753,193 Salary £508,500, Bonus £266,700, Benefits in kind £26,800 Total £802,000 1.06 On this comparison he is more than handsomely paid the only comparison of the companies being the salary paid to the respective Chief Executives. Little wonder he sees his salary as off limits on his meet the punter tour. I could give my opinion on the current playing squad however it is only my opinion that we have a squad of mediocrity and the new signings are no better than the ones we had. It is criminal that we have not replaced McManus and Caldwell with anything better. Looking through the spine of the team we have a loan goalkeeper, perhaps one centre back although slow as slow and the rest still cannot displace Loovens. Brown still Brown and Kayal and Ledley had their worst games for us on Sunday. Murphy slow and in my opinion no better than Samaras. However my opinion is just that, my opinion. The facts regarding Mr Lawwell, his performance and his remuneration are facts. The company sets 7 performance criteria. All 7 have not been met yet this is deemed adequate to trigger a bonus. The remuneration was off limits at the punters tour. Hopefully Mr Lawwell, and those that determine performance and remuneration, will not escape scrutiny at the forthcoming AGM. www.celticunderground.net/index.php?option=com_content&view=article&id=438:lawwell-rewarded-for-failure&catid=45:season-2010-2011&Itemid=80Sean the last time i read something like that was my last appearence at court !!! I never read a book that long ! Whithout reading it all mate.....We were £35 mill in DEBT....When he took over......
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Post by torquaybobby on Sept 22, 2010 0:14:19 GMT
i hope lawell and reid get punted at the end of the year Are you really being serious there mate ?
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rem6
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Post by rem6 on Sept 22, 2010 1:00:44 GMT
the boards total negligence for the past few seasons is unforgivable , we have sunk so far in terms of quality on the park , and handed the scum 2 titles and untold millions in revenue , as well as losing millions in revenue because of our failure on the park , for this i blame the bad decision making at board level , i dont put all this at the door of pl , there are more than him to blame for our demise , the 5 year plan didnt work for the playing side , only for the number crunchers
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Post by singtim on Sept 22, 2010 1:40:13 GMT
why else would i say it.
reid has done nothing yet to give me any confidence in his ability, he just seems to want to wind up the huns despite being beaten by them. i used to criticise quinn, i'd like him back please...
as for lawell lawell has probably had 2 decent seasons - he fcked up in MONs last year not giving him any money and did the same in strachan's last year in january. last year was a disaster and he was lucky to keep his job as far as i'm concerned - i doubt a ceo of any other company with results like his would get away with what he has so far
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Post by carson67 on Sept 22, 2010 2:24:06 GMT
Is it not a board decision as to how much gets spent,you cant just blame one person on failure, just as you cant congratulate one person on success
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format
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Post by format on Sept 22, 2010 2:34:34 GMT
why else would i say it. reid has done nothing yet to give me any confidence in his ability, he just seems to want to wind up the huns despite being beaten by them. i used to criticise quinn, i'd like him back please... as for lawell lawell has probably had 2 decent seasons - he fcked up in MONs last year not giving him any money and did the same in strachan's last year in january. last year was a disaster and he was lucky to keep his job as far as i'm concerned - i doubt a ceo of any other company with results like his would get away with what he has so far All else aside you're wrong about other CEOs. They are routinely awarded large figures in bonuses which are nearly irrespective of 'real world' performance.
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Post by singtim on Sept 22, 2010 2:40:46 GMT
i wasnt really referring to the bonuses just the fact he has failed, 2 years on the spin, with last year being a total shambles. in a non football business i'd imagine that would lead to the sack, to think we might have actually got money for him a couple of years ago...
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Post by hubert on Sept 22, 2010 3:32:15 GMT
i hope lawell and reid get punted at the end of the year be careful what you wish for ....... Be careful you say, Rangers have won the SPL title this past two years, and this season could be the third in a row, careful, you got that right get rid of them!
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Post by lennox on Sept 22, 2010 7:46:54 GMT
Its easy to say its Lawwells fault that the huns won the last two titles, everybody needs a scapegoat and he's it i'm afraid. We were seven points clear two years ago in january and lost the league because we couldn't score at easter rd even though we should have had a stone wall penalty that the MIB ignored, maybe we should blame him! The reason we've downsized is because of where we play...nothing else. If we'd carried on spending we'd be in the same sh*t as the huns. The rest of the SPL feked us over with the setanta deal as well and we lost out there as has been well documented, now Killie's chairman wants us to bail them out after ignoring us when we told them to take the Sky deal. We keep shouting Lawwell this Lawwell that but its Scotland thats fekin us over, we play in a league that generates no money...end of.
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Post by machanalan on Sept 22, 2010 7:54:15 GMT
i cant belive how many fans fall for lawwell spin on things . hes a very well off man and our club have increased his bank account be obcene bonus payments for failure . Also in these tough times how many folk has peter made redundant to justify his bonus >:(Bet you brother walfrid would be sad at the obcence amounts of money being paid to suits in our football club . I know celtic have a charity fund but these charitys get a pittance when you see what these guys suits are taking out our club in wages
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Post by 10menwontheleague on Sept 22, 2010 8:19:47 GMT
if we win nothing this season but make a £5M profit I presume the bonuses paid would be more than if we win the treble but made a loss of £5M which is where the problem lies.Lawwell did a good job getting the debt down and got support from the fans because the debt was too high but when we had got the debt down to a manageable ammount and had the chance to screw the Huns into the ground by signing fletcher,or another deperately needed striker,and didn't which lost us 2 seasons CL money and more importantly a chance to maybe even put the Huns out of business(we'll never get that chance again) then I think Lawwell should have left.All his good work went down the drain.Instead he continued getting bonuses!
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rem6
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Post by rem6 on Sept 22, 2010 8:20:00 GMT
so who do ye thinks paid more pl or nl
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Post by machanalan on Sept 22, 2010 8:21:59 GMT
so who do ye thinks paid more pl or nl lawwell by a country mile
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format
Junior Member
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Post by format on Sept 22, 2010 9:41:12 GMT
so who do ye thinks paid more pl or nl lawwell by a country mile Who do you think gets more - Scott Brown or PL?
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Post by Seanybhoy1888 on Sept 22, 2010 9:51:13 GMT
I sometimes think CEO in any organisation have a shelf life of around 4/5 years. Lawwell has done good work for the club since being appointed in 2003 but maybe change is needed if we can find a suitable candidate.
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Post by tictoc on Sept 22, 2010 10:08:21 GMT
Not only has he failed the fans on the football front,he has failed us on the financial front as well.He ,by totally ignoring the the old addage,speculate to accumulate,lost the last two leagues.We now find ourselves in a position of debt,which again is being offset by the sale of our two star players.This is not great buisness.This is selling off the family silver.Instead of giving the profits of the Aiden money to Neil to buy,what he and every Celtic fan knows we have needed for years,a top class CH,he has used it to make the books look good.If the lack of a CH,costs us the league again this year,and we lose the chance of CL money,remember,the winners of the SPL will only play one qualifier,and be seeded,I fail to see how he can keep his position.You can say what you like about the huns,they lost their top scorer,but they must have begged,on bended knee to the banks,to make the £4 million available to them,for Jelavic.They are not going to let us cruise this league,like we did with them.Mr Lawell should take heed,but I fear he wont.Only in Lenny we can trust,it seems.
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Post by Sassenach on Sept 22, 2010 10:19:35 GMT
Let's be honest, this argument will never end with some pasting the Board and some supporting them, all I will say is that without sound management we would be deep in debt and in the same boat as Rangers, yes they have won the last two titles but they are nearly bankrupt. So what do we want? I now prefer to look forward and see what the team that Neil is building will do. And as for the Board losing the league last season....not so, they backed TM with money and many fans were ok with his appointment, I didn't see a list of candidates queuing up for the job, and he cost us the league aond only him
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Post by gerry on Sept 22, 2010 11:41:43 GMT
so who do ye thinks paid more pl or nl lawwell by a country mile Do you really think Neil Lennon is on a lot less than £10k a week plus bonuses. I would have thought it was more than that. No idea though, I'll take your word for it. As to the rest of the board. They get around 25k, with the Chairman getting about 50k a year, hardly massive sums. I think Dermot Desmond got about 10k last year. If people really think that "the suits" are bleeding the club dry fair enough. However the fact is that someone like Samaras probably gets more in a fortnight than they get in a year.
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Post by machanalan on Sept 22, 2010 14:24:16 GMT
lawwell by a country mile Do you really think Neil Lennon is on a lot less than £10k a week plus bonuses. I would have thought it was more than that. No idea though, I'll take your word for it. As to the rest of the board. They get around 25k, with the Chairman getting about 50k a year, hardly massive sums. I think Dermot Desmond got about 10k last year. If people really think that "the suits" are bleeding the club dry fair enough. However the fact is that someone like Samaras probably gets more in a fortnight than they get in a year. neils on a years trial if hes a sucess then he has a barganing chip to get a better wage . but there is no way hes on what lawwell gets at the moment . not a chance
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