PIC chief nets 2 million

08 October 1998

PIC chief nets £2 million

KEN HANNA, who has just stepped down as chief executive of PIC International, formerly Dalgety, received about £2 million for 17 months work.

The annual accounts of PIC, a pig breeding company, reveal that Mr Hanna was paid £1.04m in the year to 30 June, plus compensation for loss of office of nearly £800,000.

He also received £92,000 for May and June of 1997, and would have received about £77,000 for the three months to September, based on his annual salary.

His last years salary included “transaction bonuses” for Mr Hannas success in selling off Dalgetys pet foods, ingredients, distribution and agricultural arms for £1.2bn.

• Dalgety chief was paid over £1m, FWi, 07 October, 1998
• Dalgety chief in line for £1.4m pay-off, FWi, 24 April, 1998
• Dalgety sells petfoods, shares rocket, FWi, 4 February, 1998
• Dalgety offloads food ingredients business, FWi, 26 January, 1998
• 
  The Daily Telegraph 08/10/98 page 39