£1m pay rise on the way for boss of British Gas....

1carminestocky

Nice work if you can get it!

£1m pay rise on the way for boss of British Gas as 16 million of their customers face huge bill rises


By Daily Mail Reporter
Last updated at 7:37 AM on 08th September 2008


Cash boost: Chief Executive of Centrica Sam Laidlaw could see his pay soar by £1million this year

The boss of British Gas's parent firm could see his pay soar by £1million this year as millions face huge bill rises.

Sam Laidlaw, chief executive of Centrica, is expected to get a seven-figure increase in his pay, bonus and shares package.

The rise will be a blow for 16million British Gas customers who face a 35 per cent rise in charges.
He is one of several executives at the firm who could see earnings rocket, including British Gas managing director Philip Bentley.

Mr Laidlaw's total package is likely to top £2.8million, more than £1million ahead of last year.

In theory, he could earn £4.8million if Centrica hits profit and performance targets.

It made a profit of almost £1billion in the first half of this year and is likely to increase this in the second six months.

Mr Laidlaw had a £42,000 rise last year to take his salary to £915,000.

But the bonus he can receive has gone up from £1.1million to £1.65million.

His share reward has also increased from 150 per cent of salary to 200 per cent.

He says Centrica must increase profit to invest in energy sources.

Adam Scorer, of gas and electricity watchdog Energywatch, said: 'Consumers will be incandescent about this pay rise.

'It is not fair when you consider the plight of people struggling to pay bills.'

Labour MP Lindsay Hoyle, who backs a windfall tax, said: 'These wages are unacceptable.'

http://www.mailonsunday.co.uk/news/article-1053375/1m-pay-rise-way-boss-British-Gas-16-million-customers-face-huge-rises.html

moonrakerz

Usual ill-informed drivel from this rag !

This man's payrise works out at 6p per customer. His total "package" works out at 17.5p per customer.
Gas prices have risen due to global factors not this man's so-called excessive pay rise as the Daily Wail would have us think.

This man may (or may not), by his astute management of the company, have prevented yet another rise in gas prices to all BG's customers - if he did that - 6p per YEAR was well worth it !

Apart from which, if you don't like him or his company, go elsewhere. Just think about it, if everyone left BG, the parent company would doubtless appoint a new CEO to replace the one who had lost all their customers. Would they pay him several million a year to get the customers back or the minimum wage (£5.73 per hour) so as not to upset Daily Wail readers.