Executives `stand to make £100m'

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The Independent Online
Senior executives in privatised industries stand to make more than £100m from share options, according to research by the Labour Party and other organisations. Future privatisations are also expected to bring huge windfalls for executives.

Among the top beneficiaries are:

n Ed Wallis, chief executive of Powergen, who earns £351,000 a year, made £1.2m in a share option scheme last year. Five of his fellow directors had share options worth between £692,900 and £931,190.

n Bob Horton, chairman of Railtrack, who earns £120,000 a year, is expected to make £1m from share options and other benefits when the organisation is privatised. Four of his colleagues will also receive lucrative packages.

n James Smith, chairman of Eastern Electricity, who earns £269,000 a year, made £466,867 profit by taking up an option on 121,107 shares.

n John Seed, chief executive of South West Electricity, who earns £213,000 a year, made £445,137 on his shares.

n John Baker, chief executive of National Power, who earns £375,000 a year, made a profit of £675,300 on his share options.

n Bernard Henderson, chairman of Anglian Water, made a profit of £160,502 from taking up 65,645 share options.