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The lesser-known British telecom group boss received £131 million in total wages last year and became the chief wage chief executive of a London-listed business.
Zegona’s Eamonn O’Hare received £119 million from the management incentive scheme in the year ending December 2024, in addition to base salary and other benefits totaling less than £1.5 million.
The company’s chief operating officer, Robert Samuelson, was paid a total of £66 million in 2024. This figure was first reported by the Sunday Times newspaper.
Founded in 2015 by O’Hare and Samuelson (both former Virgin Media executives), Zegona specializes in purchasing, revolving and selling hard-working communications groups.
The most famous of the deal was the acquisition of Vodafone’s Spanish business last year of 5 billion euros.
Since capital rose in 2023 to help fund the contract, Zegona’s stock price has risen to over £8, from around £1.50 in November of that year.
In its annual report, Zegona said it has brought Vodafone Spain back to growth and reductions, cutting costs, including a 28% reduction in staffing.
The report focused on the “exceptional contributions” of management over the three years from October 2021 to October 2024.
Zegona did not immediately respond to requests for comment.
Zegona executives’ salaries are far higher than the UK standard, which has long been behind the US.
According to The High Pay Center, the median CEO of FTSE 100, a UK think tank excluding pensions, is £4.2 million. The best paid FTSE 100 boss, AstraZeneca’s Chief Pascal Soliot, won just under £15 million last year.
Dennis Coates, CEO of family-owned gambling business BET365, was paid more than £150 million last year.
