Persimmon pay shambles shows need to ban long-term bonus plans

Persimmon chairman Jeff Fairburn’s £110 bonus is an extreme example, but the whole long-term bonus system is rotten Jeff Fairburn, the £110m chief executive of Persimmon, will have reflected long and hard about how it looks to receive such an enormous personal windfall at a time when executive pay and housebuilders, with their share prices inflated by help-to-buy subsidies for homebuyers, are in the political spotlight.He will have noted that Persimmon’s chairman, and the