British Gas boss takes £3.7m bonus

MattMattMattUK

markin said:

Has the BG home care been split off? The boiler services and boiler install part must be profitable the prices they charge?

Homecare operates under British Gas Insurance Limited with some elements subcontracted to British Gas Services Limited and British Gas New Heating Limited, where as the residential energy supplier is British Gas Trading Limited.

Eldi_Dos

MattMattMattUK said:

Eldi_Dos said:

It was noticeable that they made announcement of bonus payment at time media was focused on Parliament vote, Boris being question by committee and PM's tax results published, good PR work on their part.

They made the bonus disclosure at the point that they were required to, which is set out according to their annual reports on finances, C-Suite remuneration being confirmed by the board etc. That date (or at least a narrow widow of one week) has bee in the calendar for years, ever since the CEO of Centrica agreed his contract four years ago

I think it is stretching coincidence to believe that announcement landed with the news agencies by chance when there was a important vote in Parliament, Boris was giving evidence to the committee and PM's tax accounts where published.
The PR people knew the media would be focused on these and choose to release when they did.
It is my experience that if somebody is trying to hide something it is for a reason.

ecraig

Typical bonus for the big boss of a FTSE 100. He deserves it. 
They could:
1. either pay him what he deserves, which is a decent bonus considering the business overall had good performance.
1a. Let him pay his huge taxes on this bonus. Great for the economy.
2. not pay him his bonus and treat him unfairly. Therefore:
2a. Force him out of the business, with a partially tax free severance package of, let's take a guess at £20m.
2b. Hire another top boss for a FTSE 100 who will expect a £4m bonus, or not take the job.

Unfortunately, OP, the dynamics of how big market listed businesses work mean there is a culture of expected decent compensation packages for people, at all grades, including a decent bonus. Most of all, the big bosses.
Multiple posters have informed you that your money is "quarantined" and rightly so have informed you that UK residential supply is not the money maker for centrica. 

You have to pursue your refund. But the big boss has earned his bonus

Eldi_Dos

@ecraig 

Read your post and thought of that cadre of managers who churn around clubs and leagues and have very good deals.
There is a train of thought that some make a better living by not producing results but do well when contracts are ended and paid up, the people who are really interested in results are the ones who pay for this.

You mention the money is quarantined I realise it was to reassure me and thanks for that, but cannot help thinking it is like a tradesperson or small business who have had a invoice outstanding for six months being told by the debtor that the debtor has a cash flow problem but will sort things out when they get back from their Caribbean cruise.