Chief Executive of London Games Paul Deighton gets bonus
The chief executive officer of the London 2012 Olympic Games, Paul Deighton, has recently received the maximum bonus on his basic pay that has enabled him to earn a total of £700,000.
However, the bonus does not come with a pay raise for Deighton, something that 1000 of the Olympic Games employees have gotten. The pay raise that has been received by these employees amounts to 2 % of their basic salary.
The bonus that Deighton received totals to £220,125. The CEO became eligible for this huge sum of money after having met the tough criteria for the award. It included making the organization one of the best in the world and meeting all international standards
for such an organization. The criteria also stated that the CEO's relationship with the stakeholders should be effective and efficient. Another important aspect of the qualification for the maximum bonus included working with a balanced budget that would lead
to the successful execution of a memorable Olympics event.
The chairman of LOCOG, Sebastian Coe, made the following observations regarding the upcoming Olympic Games: "We continue to deliver against our objectives as demand for involvement in all things London 2012 goes from strength to strength and together with
our partners we are testing all aspects of the Games. With under 12 months to go to the Opening Ceremony of the London 2012 Olympic Games, our journey to staging the world’s biggest and most important sporting events is now clearer than ever."
LOCOG has been able to gather an impressive sum of £700 million as sponsors for the Games. The target that the organizers of the London 2012 Olympics hope to achieve via their ticket sales is about £500 million.
The Olympics Games are coming to the city of London for the third time in its history. It played host to the Games for the first time in the early parts of the century in 1908 while the second time around London welcomed the Olympic Games in 1948. After
having hosted the Olympic Games in 2012, London will become the first city in the world to have done so for three times.
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