Moonpig’s Harvard-educated boss earned £6.3 million last year after receiving a bumper bonus linked to the company’s float in 2021.
The payout for Nickyl Raithatha, who has led the internet gift group since 2018, was more than the amount received by the chief executives of Britain’s major banks.
His salary is almost £600,000 but he was given a £5.6 million ‘legacy’ award in cash and shares following the firm’s stock market listing.
Nice little earner: Moonpig’s boss’s salary is £600k but he bagged a £5.6m legacy award
This took his total pay in the year to April 2023 to £6.3 million when other benefits, pensions and a modest cash bonus were included – despite Moonpig’s disastrous time as a listed company.
The group was valued at £1.2 billion when it floated for £3.50 per share. Now it is worth around £560 million and its shares are £1.65.
Revenues and profits have tumbled since the pandemic and the company is being targeted by short-sellers.
Raithatha, 40, studied economics at Cambridge before doing an MBA at Harvard Business School.
