Arsenal chairman Sir Chips Keswick defenders payment to chief executive Ivan Gazidis
- Credit: 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.
You may also want to watch:
“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.
- 1 Upper Street flat attack: Man, 58, stabbed in neck and back
- 2 Launch date for Gordon Ramsay's Upper Street burger chain
- 3 Hackney and Islington see another rise in Covid-19 cases
- 4 Taylor Cox 'wanted to play pro football until he was stabbed two years ago'
- 5 Finsbury Park sex assault: Man arrested on suspicion of rape
- 6 Police investigate alleged Finsbury Park rape
- 7 Survey: Where are the safest and most unsafe where you live?
- 8 Letters: Low Traffic Neighbourhood scheme
- 9 Letters: Fighting to keep Wray Crescent Park available to all
- 10 Police search for man who exposed himself on Islington 393 bus
“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.