Insurer Aviva gave new UK chief executive Trevor Matthews a bonus of £45,000 last year for just one month of work.
Matthews, former chief of executive of Friends Provident, was paid the bonus as part of a £4.25m welcome package despite only joining the company on 1 December, writes the Telegraph.
The disclosure was made in Aviva's annual report, released yesterday. In addition to the bonus, Matthews received £470,000 in cash and a conditional share award of £2.02m in order to buy him out of his contract with Friends.
He was also awarded a £1.62m long-term share grant plus other benefits.
Igal Mayer, head of Aviva's continental European business, was handed a series of lucrative allowances following his appointment in January 2011.
The Canadian national received £449,471 to cover items including the cost of a £5,000-a-month London home and first-class flights between London and Toronto for him and his family. The allowances were in addition to his £2.8m package for 2011.
Leading losses in the NASDAQ
Fight ‘familiarity bias’
Our weekly heads-up for advisers