Electric directors win big pay rises
Wednesday 18 January 1995
The highest-paid director of the company, on the receiving end of a bid from Trafalgar House, is Antony Hadfield, who receives £180,000 a year, a rise from £115,000 in 1992. Along with all the company's directors, his latest pay rise was awarded last October.
As well as a car, which has all its fuel and running costs met by the company, Mr Hadfield is entitled to health insurance for himself, his wife and children, and life assurance worth four times his salary. He participates in the company's senior executive pension scheme.
However, the company insisted there was no legal obligation to reveal the details of the executive directors' bonus scheme, of which he is also a member.
Northern said the scheme's rules did not form part of the directors' contract.
However, their contracts specifically refer to the "bonus scheme, details of which are available on application to the secretary of the company".
Like other directors, Mr Hadfield is "entitled to additional retirement and related benefits" granted by the board. There appears to be no limit.
The directors are on two-year rolling contracts. In Mr Hadfield's case this means that should he ever be forced out of his job he would stand to receive a pay-off worth £360,000.
David Morris, chairman, is paid £129,500 a year for a three-day week. Mr Morris also gets a car, private health cover for himself and his family and life assurance ,together with a bonus from the executive directors' bonus scheme.
Alan Groves, Northern Electric's financial director, is paid £115,000, up from £87,000 in 1990 .
He, too receives a car with fuel paid, plus private health and life insurance. Mr Groves participates in the bonus scheme.
George Hook, the operations director, receives £98,000, up from £75,000 in 1993. Mr Hook receives a car and other benefits similar to those given to the other directors.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...