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Just chief Cook takes home £2.6m following merger

Cook-Rodney.Just-Retirement.2013

Just group chief executive Rodney Cook took home a total pay package of £2.6m in the 18 months ending 31 December 2016.

JRP Group, formed following the merger of Just Retirement and Partnership, rebranded to Just in January. Cook was formerly chief executive of Just Retirement Group.

The salaries of senior employees were reviewed to take into consideration the increased size of the group following the merger.

According to the JRP Group annual report, released to shareholders today, Cook and group chief financial officer Simon Thomas received a 5 per cent increase in remuneration.

According to the report, Cook’s and Thomas’s salaries are below a “competitive level” for their current roles and are under the level of their counterparts previously at Partnership. The report says, depending on performance, they will be moved to a “market position” over time.

The report admits the challenge of combining remuneration policies following the merger.

It adds: “Remuneration practices in 2016 were focused primarily on reviewing the remuneration policy for the merged group, reviewing the remuneration arrangements of the executives of the merged group and our variable pay plans.”

Cook’s pay package for the 18-month period was made up of remuneration including a £892,000 salary, £164,000 in benefits, and a £877,000 bonus.

His remuneration package for the year ended 30 June 2015 was £1.3m.

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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Surely £1.3m to £2.6m is a 100% increase not 5%? Cost savings and synergies..

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