UK's top executives warm to US-style packages

Maximum awards for UK executives on performance -related share schemes doubled last year as companies fought to attract and retain top talent, a new survey shows.

The study, by the payment consultancy Mies for the National Association of Pension funds, suggests British companies are increasingly adopting the generous remuneration schemes common in the US.

The average award in share for a FTSE 350 executive who meets all the performance criteria on an options scheme or Long Term Incentive Plan (LTIP) introduced last year, was twice the value of his or her salary - double the 1999 average, the survey says.

The trend appears to have continued this year with option schemes setting awards of three times salary.