It appears that Jerry Fowden, CEO of Cott Corporation, and Guus Hiddink, manager of Chelsea FC, have inadvertently cashed in on the failure of previous managers.
Jerry Fowden – Cott’s third chief executive in less than a year – will receive an annual basic salary of $575,000. He’s also eligible for an annual target bonus of 80% of his base salary and up to 160% of his base salary if he exceeds target goals, so that’s a possible $1.5m pay cheque if all goes well (and that’s before stock options for 2010 and 2011 are taken into consideration).
Mr Hiddink – Chelsea’s fourth coach in less than 18 months – will reportedly get a base salary of $2.25m and a $750,000 bonus for winning the league or FA Cup. Chelsea FC owner, Roman Abramovich, supposedly paid $5m into the bank account of the Russian Football Union to guarantee the services of the national side’s manager. Meanwhile, the Dutchman’s salary with Russia is more than $4m a year, so he may scoop over $7.5m if Chelsea do ‘the double’!
When it comes to millionaire salaries, the world’s fifth richest football club clearly supersedes the world’s largest supplier of private-label soft drinks. But both enterprises are in the Premier League when it comes to enlisting high-earning managers, though retaining them is a different matter altogether.
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