The chief executive of Aberdeen-based Wood Group received a salary package of more than £1million last year, it emerged yesterday.
Allister Langlands received emoluments of £1.05million from the energy service giant in 2011, compared with £898,000 the year before.
The latest figure was made up of £495,000 in basic salary, a cash bonus of £271,000, a deferred bonus of £271,000 and benefits of £13,000.
Chairman Sir Ian Wood received a package worth £555,000, compared with £474,000 previously.
The annual report also revealed that other UK executive directors saw increases in their emoluments.
Gas-turbine service director Mark Papworth’s was up by £177,000 to £673,000, Engineering director Mike Straughen’s was ahead £92,000 to £702,000 and the payout to health, safety and environment chief Les Thomas rose by £47,000 to £587,000.
Wood Group PSN boss Bob Keiller, who became a group director last April following the acquisition of PSN, received £522,000.
Wood’s US-based executive directors also did well financially during 2011.
Well-support director Jim Renfroe received £3.08million compared with £627,000 previously.
His payout included a cash bonus of £2.9million following the sale of the well-support division to US conglomerate General Electric last year.
Meanwhile, finance director Alan Semple had emoluments of £802,000, up £106,000 on 2010.
Several Wood Group directors also benefited under the company’s long-term incentive plan.
Share awards last month were Mr Langlands (254,206), Mr Semple (211,794), while Mr Papworth, Mr Straughen and Mr Thomas all received 161,527. Shares in Wood Group closed down 7% last night at 671p.
The Aberdeen group said last month that increased global oil and gas investment would continue to help underpin its growth. Wood saw revenue rise by 40% to £3.5billion in 2011, boosted by its £606million acquisition of PSN.
Staffing at the business has also ballooned from 24,000 in 2010 to nearly 39,000 last year, with most of the increase at new division Wood Group PSN. Group Pre-tax profits from continuing operations last year rose by 62.7% to £160million, from £98.4million in 2010.
Operating profits, before exceptional items, were £166million, against £119million in 2010.