Fascinating stuff in the EEN

[Jonnyboy]

Article includes these passages

Hibs had managed to attract "top dollar" in previous years for the likes of Garry O'Connor, Kevin Thomson, Scott Brown, Steven Whittaker and David Murphy while more than £2.6m had been spent in the transfer market over the past three seasons with a further £5m invested in building the club's state-of-the-art training centre at East Mains near Tranent.


and .........

While some members of staff had been made redundant and a pay freeze introduced, the club's five executive directors, himself, chairman Rod Petrie, Tim Gardiner, Garry O'Hagan and Fife Hyland had all seen their salaries reduced and no discretionary bonuses paid.

Petrie, who had seen his basic salary reduced from £145,000 to £125,000 in the previous financial year, was, as of 1 August, now in receipt of £75,000 a year, a reflection, Lindsay said, of more of his responsibilities being passed to other directors.

The chief executive, who also revealed building a new east stand remains under review, said: "Within the club we've frozen pay and reduced the head-count. Unfortunately we had to lose some members of staff which wasn't pleasant or easy but something we had to do.

"The executive directors as a group have taken salary reductions. We have to keep cost and revenue in line while striving to put the maximum amount we can to putting the best possible team together, which is always our top priority.

Full story here ........

http://sport.scotsman.com/hibernianfc/Hibs-proclaiming-a-ray-of.5655176.jp

That's quite a tumble in salary for RP and kinda nullifies the argument that he takes a huge wedge out of club funds :agree:

[ancient hibee]

Article includes these passages

Hibs had managed to attract "top dollar" in previous years for the likes of Garry O'Connor, Kevin Thomson, Scott Brown, Steven Whittaker and David Murphy while more than £2.6m had been spent in the transfer market over the past three seasons with a further £5m invested in building the club's state-of-the-art training centre at East Mains near Tranent.


and .........

While some members of staff had been made redundant and a pay freeze introduced, the club's five executive directors, himself, chairman Rod Petrie, Tim Gardiner, Garry O'Hagan and Fife Hyland had all seen their salaries reduced and no discretionary bonuses paid.

Petrie, who had seen his basic salary reduced from £145,000 to £125,000 in the previous financial year, was, as of 1 August, now in receipt of £75,000 a year, a reflection, Lindsay said, of more of his responsibilities being passed to other directors.

The chief executive, who also revealed building a new east stand remains under review, said: "Within the club we've frozen pay and reduced the head-count. Unfortunately we had to lose some members of staff which wasn't pleasant or easy but something we had to do.

"The executive directors as a group have taken salary reductions. We have to keep cost and revenue in line while striving to put the maximum amount we can to putting the best possible team together, which is always our top priority.

Full story here ........

http://sport.scotsman.com/hibernianfc/Hibs-proclaiming-a-ray-of.5655176.jp

That's quite a tumble in salary for RP and kinda nullifies the argument that he takes a huge wedge out of club funds :agree:
The usual suspects will still find another angle of attack.

[Beefster]

That's quite a tumble in salary for RP and kinda nullifies the argument that he takes a huge wedge out of club funds :agree:

They couldn't have justified a move from 'Overlord of All That Is' to 'Chairman' without reducing his remuneration accordingly.

IMHO, he's still relatively well-paid for a Chairman of a company turning over <£10m pa but at least it's now a bit more palatable.

[ancient hibee]

They couldn't have justified a move from 'Overlord of All That Is' to 'Chairman' without reducing his remuneration accordingly.

IMHO, he's still relatively well-paid for a Chairman of a company turning over <£10m pa but at least it's now a bit more palatable.

Can you quote figures for chairmen of other companies turning over £10M?

[Jonnyboy]

They couldn't have justified a move from 'Overlord of All That Is' to 'Chairman' without reducing his remuneration accordingly.

IMHO, he's still relatively well-paid for a Chairman of a company turning over <£10m pa but at least it's now a bit more palatable.

I reckon the pay aint that great Beefster. School head teachers, heads of Local Authority Departments etc may not be in charge of big companies but they earn more than RP!

[Beefster]

Can you quote figures for chairmen of other companies turning over £10M?

Not off the top of my head but feel free to do some analysis to disprove my point.

Without actively looking for examples though, I do know of a company that I used to work for that makes in excess of £220m pre-tax operating profit where the chairman earns, in total, less than double that of Rodders.

Rodders' £75k sounds like it doesn't include pension contributions either but that may be wrong.

Just to reiterate, I'm not criticising Rodders now, just stating that it's only right that his remuneration came down and that he's not being hard done by at the level he's receiving.


I reckon the pay aint that great Beefster. School head teachers, heads of Local Authority Departments etc may not be in charge of big companies but they earn more than RP!

The pay isn't that brilliant in the grand scheme of things. I'm just saying that it's not bad for a chairman (he's not running the day-to-day stuff as CEO any more) of a company with a turnover of £7.7m.

I'd also argue that Head Teachers and heads of public services are more important than the chairman of a football club.

[Jonnyboy]

Not off the top of my head but feel free to do some analysis to disprove my point.

Without actively looking for examples though, I do know of a company that I used to work for that makes in excess of £220m pre-tax operating profit where the chairman earns, in total, less than double that of Rodders.

Rodders' £75k sounds like it doesn't include pension contributions either but that may be wrong.

Just to reiterate, I'm not criticising Rodders now, just stating that it's only right that his remuneration came down and that he's not being hard done by at the level he's receiving.



The pay isn't that brilliant in the grand scheme of things. I'm just saying that it's not bad for a chairman (he's not running the day-to-day stuff as CEO any more) of a company with a turnover of £7.7m.

I'd also argue that Head Teachers and heads of public services are more important than the chairman of a football club.

Undoubtedly so :agree:

I guess the point I was trying to make is that in the grand scheme of things £75kpa is not such a huge sum! I know one thing, if my pay dropped by £50kpa I'd be in debt :greengrin

[IWasThere2016]

That's quite a tumble in salary for RP and kinda nullifies the argument that he takes a huge wedge out of club funds :agree:

J - It's years overdue though.


Not off the top of my head but feel free to do some analysis to disprove my point.

Without actively looking for examples though, I do know of a company that I used to work for that makes in excess of £220m pre-tax operating profit where the chairman earns, in total, less than double that of Rodders.

Rodders' £75k sounds like it doesn't include pension contributions either but that may be wrong.

Just to reiterate, I'm not criticising Rodders now, just stating that it's only right that his remuneration came down and that he's not being hard done by at the level he's receiving.



The pay isn't that brilliant in the grand scheme of things. I'm just saying that it's not bad for a chairman (he's not running the day-to-day stuff as CEO any more) of a company with a turnover of £7.7m.

I'd also argue that Head Teachers and heads of public services are more important than the chairman of a football club.

:top marks

[bighairyfaeleith]

Not off the top of my head but feel free to do some analysis to disprove my point.

Without actively looking for examples though, I do know of a company that I used to work for that makes in excess of £220m pre-tax operating profit where the chairman earns, in total, less than double that of Rodders.

Rodders' £75k sounds like it doesn't include pension contributions either but that may be wrong.

Just to reiterate, I'm not criticising Rodders now, just stating that it's only right that his remuneration came down and that he's not being hard done by at the level he's receiving.



The pay isn't that brilliant in the grand scheme of things. I'm just saying that it's not bad for a chairman (he's not running the day-to-day stuff as CEO any more) of a company with a turnover of £7.7m.

I'd also argue that Head Teachers and heads of public services are more important than the chairman of a football club.

Not mine, he was a complete **** :greengrin

[oneone73]

He also owns 10 per cent of the shares. Which will undoubtedly be a very nice little earner when the time comes.

[Green Mikey]

J - It's years overdue though.




I don't see how this is years overdue. Over the last years he has helped to reduce debt, build a training centre and recently invest again in the squad. All this has been done whilst the clubs has ade profit for 5 consecutive years. Surely after a period like this in any other business a bonus would be paid:devil:

You may believe that he is/was overpaid however I think that he has fully justified his pay over the last few years.

[Jonnyboy]

He also owns 10 per cent of the shares. Which will undoubtedly be a very nice little earner when the time comes.

£75k a year as Chairman and another salary from the holding company I'd guess.

[monktonharp]

Not mine, he was a complete **** :greengrin ma heidy,was a complete barsteward,to me anyhoo. not that I was an angel:angelic::greengrin but,Rod,who over the years has never been a favourite of mine (and a fair few on here) has turned out to be just the thing our club has needed imho.that is a massive wage cut,by any means. one of my Laddies is a gas fitter (approx 36k) other Laddie is an AA man (about the same) Daughter is a store manager (probably slightly less) so I think that Chairman of HFC 'S done the club proud if that is his wage. I was earning almost 30k ,22 years ago (not now btw) so,his wage is not really exessive.:dunno:

[Jonnyboy]

ma heidy,was a complete barsteward,to me anyhoo. not that I was an angel:angelic::greengrin but,Rod,who over the years has never been a favourite of mine (and a fair few on here) has turned out to be just the thing our club has needed imho.that is a massive wage cut,by any means. one of my Laddies is a gas fitter (approx 36k) other Laddie is an AA man (about the same) Daughter is a store manager (probably slightly less) so I think that Chairman of HFC 'S done the club proud if that is his wage. I was earning almost 30k ,22 years ago (not now btw) so,his wage is not really exessive.:dunno:

See my post above yours mh

I think he's taken a hit in terms of salary out of the club but likely compensated by his salary from the holding company

Just a thought :wink: :greengrin

[greenginger]

See my post above yours mh

I think he's taken a hit in terms of salary out of the club but likely compensated by his salary from the holding company

Just a thought :wink: :greengrin



Rod is involved in STF's other companies now so I think the balance of his previous salary will now be paid by those companies, Farmers Autocare, Motson Securities etc. and not Hibs Holding Co.

[IWasThere2016]

I don't see how this is years overdue. Over the last years he has helped to reduce debt, build a training centre and recently invest again in the squad. All this has been done whilst the clubs has ade profit for 5 consecutive years. Surely after a period like this in any other business a bonus would be paid:devil:

You may believe that he is/was overpaid however I think that he has fully justified his pay over the last few years.

As a % of turnover, our Board's salaries have been near scandalous IMHO

[Phil D. Rolls]

The usual suspects will still find another angle of attack.

How about the new stand which we were promised is now "under review"?

[smurf]

In amongst all of this has Scott Lindsay's salary been revealed?

[Peevemor]

In amongst all of this has Scott Lindsay's salary been revealed?

Why should it be?

[MB62]

See my post above yours mh

I think he's taken a hit in terms of salary out of the club but likely compensated by his salary from the holding company

Just a thought :wink: :greengrin

Will he not also be getting a small wedge for being part of the SPL hierarchy?

Rod has taken a drop in salary because he has reduced hours and responsibility. The fact he CAN drop £50k just shows how much he was earning before. His £50k drop is about 2 1/2 times my salary.

As also been mentioned, this will not include all the other add ons like pension, company car etc etc.
The company he was in charge of has performed poorly in the last couple of years in particular, he deserves to be paid accordingly.

[smurf]

Why should it be?

Not saying it should be but the club have been more than open with Rod's remuneration stretching back to when Rod first took a pay cut in 2002.:wink:

[Caversham Green]

£75k a year as Chairman and another salary from the holding company I'd guess.

Unless things have changed dramatically there's not much scope for paying a salary from the holding company and they haven't done so in the past. Their income is £24k pa from renting the ticket office and whatever interest they charge on the £250k loan to Hibs. Pretty much all of that is taken up by administration costs.


Not saying it should be but the club have been more than open with Rod's remuneration stretching back to when Rod first took a pay cut in 2002.:wink:

The club gives more information about Rod's salary than it needs to by law. Off the top of my head the disclosure requirements are the number of directors paid over £100,000 and the total remuneration (including the value of benefits) of the highest-paid one. No need to name him and it does not mean he is the highest paid employee.

Hibs are the only non-OF club that has a working board of directors - the other clubs have non-exec directors but will pay people below board level to do the work that our directors do. The only two really comparable clubs are Hearts and Aberdeen. Campbell Ogilvie is not on the board, but I have little doubt that his pay is comparable with Rod's. Aberdeen do have a managing director (Duncan Fraser) and he was paid a fair chunk more than Rod in 2008. Dundee United have been able to operate successfully on a smaller scale and possibly Hibs should be aspiring to follow their example if that's the way you want to go. I have no doubt that Eddie Thompson's input had a great deal to do with that and they are by no means financially secure. The other clubs don't really operate at the same level.

Hibs directors' salaries are determined by the two non-exec. (i.e. unpaid) directors. My own view is that the paid directors generally do a good job and are well paid for it - I can't really get terribly worked up about it all.

[Jonnyboy]

Rod is involved in STF's other companies now so I think the balance of his previous salary will now be paid by those companies, Farmers Autocare, Motson Securities etc. and not Hibs Holding Co.

You may be right, or not :greengrin

[TrinityHibs]

Rod for a year or Larry Kingston for 5 weeks:hmmm::wink:

[smurf]

Unless things have changed dramatically there's not much scope for paying a salary from the holding company and they haven't done so in the past. Their income is £24k pa from renting the ticket office and whatever interest they charge on the £250k loan to Hibs. Pretty much all of that is taken up by administration costs.



The club gives more information about Rod's salary than it needs to by law. Off the top of my head the disclosure requirements are the number of directors paid over £100,000 and the total remuneration (including the value of benefits) of the highest-paid one. No need to name him and it does not mean he is the highest paid employee.

Hibs are the only non-OF club that has a working board of directors - the other clubs have non-exec directors but will pay people below board level to do the work that our directors do. The only two really comparable clubs are Hearts and Aberdeen. Campbell Ogilvie is not on the board, but I have little doubt that his pay is comparable with Rod's. Aberdeen do have a managing director (Duncan Fraser) and he was paid a fair chunk more than Rod in 2008. Dundee United have been able to operate successfully on a smaller scale and possibly Hibs should be aspiring to follow their example if that's the way you want to go. I have no doubt that Eddie Thompson's input had a great deal to do with that and they are by no means financially secure. The other clubs don't really operate at the same level.

Hibs directors' salaries are determined by the two non-exec. (i.e. unpaid) directors. My own view is that the paid directors generally do a good job and are well paid for it - I can't really get terribly worked up about it all.

I wasn't getting "..terribly worked up about it...". You make some very good points but they don't relate to what the remuneration of the the Chief Executive (who just happened to let it be known what the remuneration of the Chairman is!)

[Caversham Green]

I wasn't getting "..terribly worked up about it...". You make some very good points but they don't relate to what the remuneration of the the Chief Executive (who just happened to let it be known what the remuneration of the Chairman is!)

My comments weren't really aimed at you, I only quoted your post because I was explaining why SL's salary isn't published and RP's is. The rest of my post was just general information. As an aside, I'm a bit surprised that the club gives more information than they need to in this respect.

I've now managed to have a look at the 2009 accounts and they show that Rod was still the highest paid director and, if I've got the disclosure requirements right, the only one paid over £100,000. Total directors remuneration was £495,702, Rod was paid £125k basic, £15,625 pension contribution and received benefits to the value of £11,764.

Edit: The cut to £75k is also noted in the accounts, so SL wasn't saying anything that wouldn't soon be public knowledge.

[Dr Jimmy]

I am not a huge fan of Mr Petrie, but to pay him £75K to run a business like Hibs is pretty poor. I would have expected him to earn at least £100K basic plus package.
I am really quite shocked that he will only be paid £75K.

[IWasThere2016]

I am not a huge fan of Mr Petrie, but to pay him £75K to run a business like Hibs is pretty poor. I would have expected him to earn at least £100K basic plus package.
I am really quite shocked that he will only be paid £75K.

PT post - dealing mostly with transfers .. so it's a summer job and a month in January .. oh and a few Board meetings/AGM .. Many would do it for less

[Caversham Green]

I am not a huge fan of Mr Petrie, but to pay him £75K to run a business like Hibs is pretty poor. I would have expected him to earn at least £100K basic plus package.
I am really quite shocked that he will only be paid £75K.

He's no longer running the business though, Scott Lindsay's doing that. Apparently Rod still gets involved in buying and selling players (and I guess some other stuff) but he's passed a bunch of his duties over to the other directors.

Most other club chairmen are non-executive and don't get paid.

[HFC 0-7]

PT post - dealing mostly with transfers .. so it's a summer job and a month in January .. oh and a few Board meetings/AGM .. Many would do it for less

Its interesting to see that there is quite a lot of differing opinions out there regarding Petrie. I used to look forward to the time Petrie would do one and get out of Hibs, but I must admit that he looks to have done, and is doing, a very good job at hibs. I agree that his salary may be questionable but to put hibs in the position (financially) they are, when other SPl clubs, and the big money clubs in England are finding it difficult, is an achievment. Anyway, to all that have there doubts about Petrie, it could be worse, we could have the romanovs at our club!!!:jamboak:

[Dr Jimmy]

He's no longer running the business though, Scott Lindsay's doing that. Apparently Rod still gets involved in buying and selling players (and I guess some other stuff) but he's passed a bunch of his duties over to the other directors.

Most other club chairmen are non-executive and don't get paid.

Fair enough then, £75K is good money if he has changed to lesser role.

[lucky]

RP's salary of £75k may seem a lot but in fact he is not very well paid for the job that he does. I don't know what other chairman get in the SPL but I think its money well spent. I have never understood the fascination with his salary. If he is not performing then the shareholders remove him. 5 years in a row Hibs have posted a profit and have won 1 trophy. All other clubs in Scotland would take that except the bigot brothers.

[IWasThere2016]

RP's salary of £75k may seem a lot but in fact he is not very well paid for the job that he does. I don't know what other chairman get in the SPL but I think its money well spent. I have never understood the fascination with his salary. If he is not performing then the shareholders remove him. 5 years in a row Hibs have posted a profit and have won 1 trophy. All other clubs in Scotland would take that except the bigot brothers.

Which IMHO is a poor return given the talent we've had in that time ..