Purplebricks has given lucrative share options to its new global chief operating officer, Vic Darvey.
He was been awarded options to subscribe to 700,000 ordinary shares of 0.1p each, under the employee share option plan.
The shares have an exercise price of £1.65, which was the closing price at January 4, making the golden hello worth £1.1m.
Darvey, 45, does not come from an estate agency background, but was the former managing director of MoneySupermarket, and previously a leading figure in the travel industry. He helped set up a company which was sold to lastminute.com
He started at Purplebricks, in the new role of group chief operating officer, this week.
Darvey’s appointment was announced by Purplebricks last month as part of its interim results for the six months to the end of October.
It described him as a digital leader with over 20 years’ experience “successfully scaling a number of international consumer brands”.
It added: “He has held leadership roles across a number of highly competitive and disruptive businesses including lastminute.com
“Vic brings a proven record of technology delivery and leadership of cutting edge data-led, customer-focused, commercial innovation.”
Comments (7)
According to companies house, our local pb lpe who has been trading for 3 years had a turnover of £16,000 in his last financial year! Not sure that he’ll be able to contribute much to the £1.1 million!
Looks like a solid appointment for the very strong PB board.
Sounds like desperation by the board who have failed themselves and need to buy-in someone who can dig them out of the deep hole of losses. Money on he will quit within the year.
Vic better do as the Bruces have and cash his shares in quick otherwise his £1.1 million will shortly be worth zip.
Laughable even by your standards Dom.
*****GULP*****
I am sure the 600 odd LPEs most of whom apparently are struggling to make ends meet, being told to work 7am-12am every day, finding the expectation on them growing by the day, will welcome this appointment. Those that were promised a 6 figure yearly earning will be chuffed that before he has started his job, a £1.1million bonus has been chucked his way.
Were there so few people want this job that the gift had to be so large?