EMI chiefs forfeited £41m in bonuses after collapse into administration

Generous incentive schemes for executives were cancelled before a single pound was paid out, accounts showThe collapse of EMI Group, the world's fourth largest music major, into administration last year saw its managers, including chief executive Roger Faxon, forced to share the financial pain by forfeiting an estimated £41m in bonuses.Faxon and other senior colleagues signed up to generous incentive schemes after the company was taken private by Guy Hands in 2007, but annual accounts published...

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