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Compass: Exec pay to be linked to performance

LONDON —In the wake of a compensation controversy, contract giant Compass Group PLC, based here, alerted shareholders that pay packages for top executives would be tied more closely in the future to corporate performance. The policy change, stated in Compass’ annual report, followed an outcry over the rewards received by former chief executive Mike Bailey, who retired last May, and Sir Francis Mackay, who stepped down as chairman last June. Bailey, who led the company through three profit warnings and a contract scandal involving the United Nations, reportedly received a 2006 salary of about $3 million, bonuses of around $1.6 million and a pension payout worth about $25 million. Mackay’s pension payout was nearly $29 million.

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