Search

Arsenal chairman Sir Chips Keswick defenders payment to chief executive Ivan Gazidis

PUBLISHED: 18:30 27 October 2017

Arsenal fans outside the Emirates Stadium before the Premier League match against Brighton (pic John Walton/PA)

Arsenal fans outside the Emirates Stadium before the Premier League match against Brighton (pic John Walton/PA)

PA Wire/PA Images

Chairman insists CEO is doing a fantastic and first class job leading the development of the club

Arsenal chairman Sir Chips Keswick defended the £2.6million payment made to chief executive Ivan Gazidis despite on-field results waning.

Gazidis was made the payment, which included a bonus of £919,000, despite Arsenal’s league position slipping from second to fifth place with no Champions League qualification.

Keswick said at Arsenal’s Annual General Meeting: “The club’s remuneration committee which is chaired by Lord Harris and of which I am a member, evaluates the performance of our executive directors and senior management team across a very broad spectrum of objectives.

“These objectives include financial targets both in terms of current year performance against budget and revenue growth across a longer time-frame than the results of a single season.

“These financial metrics are just one part of our assessment. The development and delivery of projects such as the upgrade of our training facilities, the academy and the continued strengthening of our commercial capabilities are among the other relevant milestones.

“I would also add that it is important the remuneration of all the club’s management remains competitive in order to attract and retain talent. In this regard, our CEO’s pay is comparable to clubs of a similar stature.

“Ivan is doing a fantastic and first class job leading the development of this club across every aspect of its operations and is representing it in the Premier League, the European Club Association and UEFA level.

“We are fortunate to have him as our CEO and I am very grateful that he does as much as he does.”

Keswick was also re-elected as chairman, which was opposed by those in the room at the AGM, but it was revealed ahead of a poll vote that there were proxies that backed the resolution which together amounted to more than 97 per cent of the total shareholding of the company.

Related articles

Latest Islington Sports News

45 minutes ago

NBA Crossover runs from August 10-12

Yesterday, 16:00

Joel Hughes’ team are in Middlesex County League Premier Division action on Saturday before a big cup game the following day

Yesterday, 13:00

After losing to Winchmore Hill last weekend, the Tivoli Road club will aim to bounce back on Saturday

Yesterday, 10:00

The fourth-placed side in Division Three will travel to the team third in the table this weekend

Yesterday, 07:00

England hockey keeper Maddie Hinch has been put through her paces ahead of this summer’s World Cup in London — albeit in fairly unusual circumstances.

Middlesex lost to Somerset by four wickets with 12 balls remaining at a packed Lord’s in the T20 Vitality Blast on Thursday evening at Lord’s. Read on for Layth Yousif’s report

Thu, 12:00

Johan de Silva reflected on the Shepherd’s Cot clubs loss last weekend and looked ahead to their derby at North Middlesex

Thu, 10:00

Highbury youngster hoping to take part in event in Abu Dhabi next March

PROMOTED CONTENT

Fostering older teenagers means giving them the skills for life as an adult. Here, a supportive lodgings carer with Islington Council and young adult who has left care share their stories

Newsletter Sign Up

Islington Gazette twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read sport

Show Job Lists

Digital Edition

cover

Enjoy the
Islington Gazette
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now