Arm boss in line for billion-dollar payday if chipmaker hits targets

Proposal requires Rene Haas to steer US-listed British company to exceptional growth metrics'

The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the microchip firm into the UK's first trillion-dollar company.

Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain exceptional growth metrics".