Yorks Water chiefs 'not paid enough'
Wednesday 03 July 1996
The recommendation threatens to rub salt into the wounds of customers who are still facing a hosepipe ban and the prospect of another drought- ridden summer and comes after hefty criticism of the group's management by Ofwat, the industry's regulator, in the wake of last year's water shortages.
The company's remuneration committee, chaired by Christopher Honeybourne, concludes in the company's latest annual report now going out to shareholders that top pay rates are "significantly out of line" with other parts of the industry and with the market in general. Following a shake up at the group, Kevin Bond, chief executive of Yorkshire Water Services, is now one of the two most senior executives, earning pounds 127,000 a year.
Yorkshire said the report would be discussed at the annual meeting on 25 July. However, the company has regarded its pay rates as being at the bottom of the league compared with other utilities. It is understood that the aim is to introduce a long-term bonus scheme "in the fullness of time", though no proposals will be put to shareholders at the annual meeting.
But the plans immediately came under attack. Sheffield Labour MP Helen Jackson, who chairs the all-party group on the water industry, claimed: "Customers and the workforce will be absolutely astonished with this conclusion."
Pete Bowler of the campaign group WaterWatch angrily rejected the report's conclusion. "You don't need to be a brilliant captain of industry to run a monopoly. You have to be absolutely bloody incompetent to run a water company at a loss." Both Mr Bond and new chairman Brandon Gough seemed happy with their salaries on joining the group in recent months, he added.
peopleContenders for Time magazine's Person of the Year are a mixture of the good, the bad and the holy
newsAs the world remembers Mandela the hero, the prison where he spent 27 years seems all the more brutal
tvSteven Moffat reveals the actor was dying to take on the role of the Time Lord and says he is excited to see what he will do with the character
sportBayern Munich 2 Manchester City 3: City come from two down to beat reigning European Champions
arts + ents... and a chance to paint Booker Prize winning author Hilary Mantel
danceUnder Tamara Rojo's inspired direction, it seems possible that it could challenge the dominance of the Royal Ballet. We meet some established names and rising stars
travelDiscover Uruguay's jet-set beach resort, an Atlantic enclave with plenty of art and culture to explore on the side
The ten coldest places on Earth
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Nelson Mandela memorial: Cheers, jeers and a masterclass from Barack Obama that stole the show
- 1 It’s shameful that our universities have accepted gender segregation under pressure from the most oppressive religious fanatics
- 2 Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Selfie at funeral: Cameron squeezes in on Obama snap at Mandela memorial
- 5 Is Facebook making us forget? Study shows that taking pictures ruin memories
- < Previous
- Next >
iJobs Money & Business
£50000 - £65000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...
£60000 - £85000 per annum + BONUS + BENEFITS: Harrington Starr: A leading asse...
£45000 - £70000 per annum + Bonus + Benefits: Harrington Starr: Technical Impl...
£65000 - £90000 per annum + Bonus + Benefits: Harrington Starr: Rogue Trading ...