B&Q managers to receive £45K from share scheme
Published: 24 April, 2012
LONDON: B&Q store managers will be able to cash in shares worth £45 000 when a £9m sharesave scheme matures this week.
The 300 managers were given shares in parent company Kingfisher in April 2009 as part of a scheme designed to maintain consistently high store-operating standards.
Under the terms of the scheme, called Let’s Share It, managers who met the required store standards received shares worth approximately six months’ salary at the time.
A spokesperson from B&Q said: “The majority of the shares will vest this week and due to the performance of the share price are set to gain participants the equivalent of almost a year's salary.
“Rewarding managers who meet challenging store standards with shares is a really tangible way of making sure we do the best job we can for customers and reward our managers for their contribution to the growth and success of the company.
"In December 2011, almost 2000 B&Q employees shared in an £8mm pre-Christmas windfall as part of the organisation’s sharesave scheme, which gives all employees the chance to share in the success of the company.”