Former GMG Radio chief took £82k bonus

Stuart Taylor, GMG Radio’s former chief executive was just one of two directors to take a bonus payout last year.

The annual accounts show he took £82,000 to make his total remuneration to £404,000, just ahead of his £400,000 total the previous year. Plus an extra pension contribution of £94,000.

He left GMG Radio the day Global Radio announced they had purchased the Guardian Media Group’s radio division, but it’s unknown on what settlement he may have taken. He’d been with GMG for 23 years in total.

Andrew Miller, GMG CEO said: “I would like to thank Stuart, along with the very talented team at GMG Radio, for all their hard work and to wish them the best for the future.”

Andrew took a 10% pay cut and voluntary gave up a £174,000 bonus in the year to the end of March, in which GMG reported a pre-tax loss of £75.6m.

GMG’s annual report shows that the radio stations made an operating profit of £2.5m, up from £900,000 the year before. Revenue stood at £48.1m.

“The combined Smooth and Real audience grew by 7% to 5.6 million adult listeners at the end of 2011, while the company’s multi-platform approach delivered a 17% increase in digital listening. The year also saw a record haul of awards for GMG Radio, including two Sony Radio Academy Golds,” the report says.

Posted on Monday, August 13th, 2012 at 12:45 pm by RadioToday

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