Wolfson chief could see pay package top £1.7m

Wolfson Microelectronics: Chief could see pay package top 1.7 million pounds. Picture: Sean Bell

The chief executive of Wolfson Microelectronics could see his total pay package top £1.7 million under a new remuneration policy being proposed at the Edinburgh technology firm.

The bumper package for Mike Hickey would only be triggered if the company smashed stretching targets, and more than half would be made up of long-term bonuses which would not be paid until after 2017.

If Hickey achieved targets set for 2014, he could be in line for a total package of £759,000 with £1.2m under a “stretch” target and a £1.71m maximum payout. He would be likely to receive around £315,000 if targets are not met.