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Carphone Warehouse boss to collect £34m despite Best Buy UK shambles Friday, 29th June 2012
Image courtesy of Carphone Warehouse
Roger Taylor, Carphone Warehouse Group chief executive, is set to collect £34 million in cash and shares this year despite the failure of the Best Buy UK chain, the creation of which he spearheaded.
Carphone Warehouse had to shut 11 stores in the UK with 1,100 jobs lost, as well as simultaneously pulling out of its Best Buy Mobile venture in the US.
Taylor was awarded 8.4 million shares from the Best Buy Europe scheme, scoring £14 million in cash from a special dividend paid to all shareholders in January, plus a shareholding which is worth £12 million. However, Taylor waived his £220,000 annual bonus, choosing to give the money directly to Cancer Research UK.