Jeremy Philips received $7m+ in his last year with Photon, annual report reveals

Jeremy Philips’ rescue of Photon Group saw him receive more than $7m in in the last financial year, its annual report reveals.

The annual report for the company – which renamed itself Enero Group – was quietly published last week. Enero’s main remaining agencies are BMF, Naked Communications, Hotwire, Frank PR and The Leading Edge.

During the financial year which ran from July 2011 until the end of June this year, the annual report indicated that Philips received a total of $5.6m in cash and other compensation. This included salary and fees of $2.08m, a cash bonus of $190,000, non-cash benefits of $5, super and pension contributions of $50,000 and termination benefits of $3.276m. In addition, he received equity-based remuneration of $1.51m.

Philips left half way through the financial year, handing over to BMF co-founder Matthew Melhuish in December 2011. Philips led a major restructure of the company which he took the helm of as it teetered on the brink of collapse after an acquisition spree left it with a debt mountain.