The journalists’ union at the FT unanimously passed a resolution welcoming Redding’s actions, but said they did not go far enough and demanded higher pay for trainees and above-inflation pay increases for other employees. Financial Times (FT) CEO John Ridding is to return part of his £2.6m ($3.3m) salary, after some of the newspaper publisher ’s staff voted for a pay rise in an online survey. Ridding asserted that his pay was set by the newspaper’s owners, Nikkei, and was independently assessed. Ridding said that he was reinvesting “the increase awarded in 2017, which is £510,000 before tax” into the FT. Some of the money will be used to create a women’s development fund to decrease the FT’s gender pay gap and encourage the promotion of female staff.
Financial Times (FT) CEO John Ridding is to return part of his £2.6m ($3.3m) salary, after some of the newspaper publisher’s staff voted for a pay rise in an online survey. Ridding asserted that his pay was set by the newspaper’s owners, Nikkei, and was independently assessed. Ridding said that he was reinvesting “the increase awarded in 2017, which is £510,000 before tax” into the FT. Some of the money will be used to create a women’s development fund to decrease the FT’s gender pay gap and encourage the promotion of female staff.