FTSE100

• In the same week this was reported, UK political figure Nigel Farage called outgoing NatWest boss Alison Rose’s £2.4 million payout “a sick joke”.
• As with sports stars, it’s necessary to pay at or above the global market rate to attract talent.
• Other countries, most notably the US, tend to pay CEOs more than the UK, which drives up international norms.
• Boards often seek independent advice on CEO pay from “compensation consultants”, but these consultants typically recommend paying above average to attract the best candidate.
• Economic theory argues this risk-bearing should be rewarded, which means expected pay levels rise as compensation risk increases.

CEO pay versus performance

• But much of the unease surrounding CEO pay reflects a structural asymmetry – executives can benefit from positive performance while apparently being insulated when performance is weak.
• But even when high pay reflects exceptional company performance, inequality persists.
• The average FTSE100 CEO currently earns 118 times the median UK employee according to the High Pay Centre (remarkably, this ratio has fallen compared with pre-pandemic levels).

Soaring soccer pay

• French football superstar Kylian Mbappé’s contracted gross salary at Paris Saint-Germain is estimated at close to £1 million per week (not including image rights deals), or 1,562 times median UK gross pay.
• These superstars and the clubs that employ them attract limited public criticism, despite doing more than their fair share to foster pay inequity.
• As a result, we’re not willing to accept high levels of pay inequity between CEOs and the rest of us.

• As part of the transaction, Admiral will retain a minority stake in Insurify and continue to serve as a strategic shareholder.
• Allie Feakins, Compare.com’s CEO, will join Insurify as SVP of Insurance and lead insurance operations for the combined company.
• “Over the past 10 years, we have observed firsthand the rapid growth of Insurify as one of leading auto insurance comparison platforms.
• We are excited that Insurify chose to acquire Compare.com and the opportunity to extend our business model to a full-service insurance agency.

• Initially introduced eight years ago, unikrn is the most expansive video games and esports betting platform on the market offering a safe, secure and accessible way for players of legal betting age to supercharge their esports fandom.
• With an around-the-clock video game stream of exciting action featuring the worlds most popular video game titles, unikrn gives players more ways to bet while watching and playing their favorite games.
• The launch of unikrn in both Brazil and Canada is the first step as we introduce a video games and esports betting platform that truly puts a new generation of players and their passions first.
• Founded in 2014 and reintroduced by Entain in 2022, unikrn is the most expansive video games and esports platform on the market.

• Smith+Nephew is the first orthopaedics company to receive FDA 510(k) clearance for a revision indication using a robotics-assisted platform.
• Surgeons can now experience the power and versatility of one robotics platform when using the CORI Surgical System.
• With broader capabilities and expanded indications, it can address robotic-assisted total, partial, and now revision knee arthroplasty, along with computer-guided total hip arthroplasty.
• "Beingfirst to market with a revision indicationfor robotic-assisted knee replacement surgeryis a significant milestone in orthopaedics," said Randy Kilburn,Executive Vice President & General Manager, Orthopaedic Reconstruction, Robotics and Digital for Smith+Nephew.