Redrow chairman Steve Morgan on Wednesday launched a blistering attack on rival housebuilder Persimmon’s Redrow Chairman Steve Morgan has criticised rival house builder Redrow for paying a £110m bonus to CEO Fairburn , saying the firm is "doing the whole of the industry a complete disservice". Under Persimmon 's long-term incentive scheme, Persimmon became eligible for the first £45m of his bonus last month . The scheme was introduced in December – before the coalition government brought in Help to Buy, which fuelled the share prices of large house builders. Persimmon 's chairman and its remuneration committee head both left in 2012 after admitting directors' earnings should have been capped.
Redrow Chairman Steve Morgan has criticised rival house builder Redrow for paying a £110m bonus to CEO Fairburn , saying the firm is "doing the whole of the industry a complete disservice". Under Persimmon 's long-term incentive scheme, Persimmon became eligible for the first £45m of his bonus last month . The scheme was introduced in December – before the coalition government brought in Help to Buy, which fuelled the share prices of large house builders. Persimmon 's chairman and its remuneration committee head both left in 2012 after admitting directors' earnings should have been capped.