Betfair's bosses don't feel your pain

Lost your shirt punting on the Betfair float? Here's news to make you even more miserable: the directors do not share your pain. Okay, chief executive David Yu and finance director Stephen Morana own (more than) a few shares themselves. But, for them, the agony of seeing the share price halve from the float price last October is softened by the increases in their pay packages. In Morana's case, he took home £1.6m in the year to April, thanks mostly to the contribution from the "senior executives' incentive plan". The annual report did not explain clearly if the incentive was simply to get the float away – rather than, say, to ensure the company's new shareholders were still happy nine months later. A steward's inquiry is required on that point. Either way, though, Betfair should have done the decent thing – ask the individuals to accept reduced winnings in the interests of happy relations.