Moneysupermarket boss secures higher pay deal ahead of exit

Departing Moneysupermarket boss Mark Lewis received an almost £90,000 larger pay packet last year as he helped drive the firm to bumper profits.

Last month, Mr Lewis announced plans to step down from the business after boosting pre-tax profits by 8.5% to £116 million for 2019.

The company’s latest annual report said that the chief executive officer received a £1.24 million pay deal for the year, up 7.6% from £1.15 million in 2018.

His salary increased to £551,400 for the year from £540,600 in 2018, although he also received a smaller bonus payment.

However, his pay package was particularly boosted by a £104,257 payout from his long-term incentive plan.

Mr Lewis helped drive an improvement in performance over the year which helped increase company share value by around 24%.

Last month, Moneysupermarket also reported a 9% increase in revenue to £388.4 million on the back of strong growth in its home services arm, which includes energy switching.

It added that a recruitment process is currently under way to identify Mr Lewis’ replacement.

The report also revealed that Scilla Grimble – who was appointed chief financial officer in February 2019 – received a total pay deal of £1.17 million for the year.