31 October 2010 at 1.56pm
Simon Robey, chairman of the Board of Trustees, has issued the following statement about pay at the Royal Opera House:
We need to make sure we have world class people running our world class institution, so pay for the top team - set by the Royal Opera House remuneration committee made up of independent trustees - reflects what is an international market and not just a UK one. The transformation of the Royal Opera House over the last decade led by Tony, Tony and Monica, has been a major success by anybody's reckoning. People forget what difficulties it was facing. In ten years, our turnover has risen to £106 million -- more than doubled. Fundraising has risen from just over £6 million to £23 million each year. Grant from the Government is now just over a quarter of our total income - it was over forty per cent a decade ago. And for ten years by careful and prudent management we've enjoyed financial stability with small surpluses each year. Both Tonys and the artistic leadership are much in demand - and they and the entire ROH team have done and are doing a great job.