Old Mutual launches share performance plan for Paul Feeney

Paul Feeney

Old Mutual Wealth has launched a share incentive plan which will see chief executive Paul Feeney awarded shares dependant on the growth of the business.

A stock market announcement yesterday confirmed the Old Mutual Wealth Joint Share Ownership Plan has been awarded 193,534 shares with an initial value of £2.1m.

Under the scheme, any growth in value of the  plan will be awarded to Feeney in the form of a shares in Old Mutual.

The announcement says: “Under the terms of the plan the shares will be owned jointly by Mr Feeney and the trustee of the plan, with Mr Feeney’s interest limited to the growth in value of the shares over the initial value.”