Pay of Bovis Homes chief executive Malcolm Harris fell to 拢513,000 in 2007

Malcolm Harris, chief executive of Bovis Homes, took home 拢513,000 in 2007 鈥� almost half the figure in 2006.

Harris forwent his bonus last year as the housing market tightened, which meant his pay was 48% below last year鈥檚 figure of 拢988,000. The figure comprised a basic salary of 拢488,000 plus a 拢500,000 bonus.

Despite the drop, his basic salary increased by 5% from 拢500,000 to 拢525,000.

David Ritchie, group managing director, also received no bonus and took home 拢308,000, a 45% drop on last year鈥檚 figure of 拢565,000, which included a 拢300,000 bonus.

Ritchie will replace Harris as chief executive in May. In turn, Harris will replace Tim Melville-Ross, who is leaving the company.

Melville-Ross took home 拢95,000, a 7% rise on last year鈥檚 拢88,000.

Finance director Neil Cooper, who joined Bovis on 2 January last year, received 拢188,000.

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