5% pay rise for Centrica chiefs
Top bosses at British Gas parent Centrica will get an average 5% pay rise this year, it was revealed today.
The firm's annual report said the award followed a year of "significant delivery" for the business and bigger roles for two of its five executive directors.
The revelation comes in a week which has seen thousands of British Gas workers vote for strike action amid criticisms of "macho management" at the business, although the company has hit back at the GMB union for "false accusations and reckless scaremongering".
A company spokesman said top directors took a pay freeze in 2009 while average salaries rose 4% among the group's customer-facing staff.
British Gas - the UK's biggest energy supplier delivered a record £595 million in operating profits last year, up from £376 million in 2008.
The residential business reaped the benefit of previous price hikes, although the firm led the way recently with a 7% reduction in gas bills during February.
The annual report showed chief executive Sam Laidlaw's package rising from £1.73 million to £2 million last year, including a £915,000 basic salary and £908,000 bonus.
Mr Laidlaw held 1.2 million shares with a market value of £3.5 million at the end of last year, as well as interests in a further 3.5 million shares through Centrica's share matching and long-term incentive schemes, the report showed.
- 1 I was a Woman Against Feminism too
- 2 Fifty Shades of Grey movie trailer released: First look at Jamie Dornan as Christian Grey
- 3 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 The Tory donor whose firm is one of Britain’s biggest tax avoiders - with HMRC's blessing
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£18000 - £20000 per annum + OTE £25K: SThree: SThree Group has been well estab...
competitive: Progressive Recruitment: This really is a fantastic chance to joi...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...