GREENBURY REPORT: Money talks: The chairmen and chief executives of the privatised utilities respond to the report's recommendations

Click to follow
The Independent Online
JOHN BAKER

Chairman, National Power

Aged 57. Recently stepped down as chief executive.

Salary: pounds 484,300 (as chief executive) pounds 180,000 (as chairman)

"We believe that our remuneration practices are broadly in line with the report. We will be reviewing our practices and policies and considering what changes might be required."

HENRY CASLEY

Chief Executive, Southern Electric

Aged 57. Joined company in 1986 after working in various electricity companies for decades.

Salary: pounds 285,000

"We have always sought to exercise proper responsibility and to remain in line with emerging best practice. We will now examine Greenbury to establish the way forward."

JOHN DEVANEY

Chief Executive, Eastern Electricity

Aged 49. Joined company in 1992 from US engineering group, Kelsey-Hayes. Regarded as the most outspoken of the electricity executives. One of a new breed of outsider in the electricity sector.

Salary: pounds 377,000

"We will be studying the findings in detail."

RICHARD GIORDANO

Chairman, British Gas

Aged 61. Around half a dozen British directorships. Earned pounds 1m a year as chief executive of BOC.

Salary: pounds 450,000 (no pension contribution)

"British Gas has been the lightning rod for criticism on the subject of executive pay since we radically changed our pay structure last year."

SIR DESMOND PITCHER

Chairman, North West Water

Aged 60. Famed for robust defence of water sector, insisting issue of boardroom pay and perks is massively exaggerated. Chairman of Merseyside Development Corporation.

Salary: pounds 360,000

"The group will examine closely the recommendations and review existing practice in the light of this."

ED WALLIS

Chief Executive, PowerGen

Aged 55. Joined CEGB as 15-year-old apprentice and rose through ranks.

Salary: pounds 461,000

"PowerGen's remuneration committee - which is entirely made up of non executives - will review the position in the light of Greenbury and report back to shareholders as soon as possible."

Comments