Southern Water Condemned For CEO Pay Rise
The new pay package of £1.4 million for the Chief Executive of Southern Water – almost double his previous salary – has been strongly criticised by Hastings MP Helena Dollimore.
Southern Water was banned from paying bonuses to senior staff, but CEO Lawrence Gosden’s ‘fixed’ pay package of £687,000 is reported to have been supplemented by a ‘long term incentive plan’ adding a further £691,000 to his total remuneration.
Ms Dollimore said “There is no justification for Southern Water hiking up their CEO’s pay cheque after the Labour Government banned his bonus. He has repeatedly failed his customers and left the company in a mess. This is a slap in the face to my constituents who have had to suffer the consequences of flooding, water outages, and sewage being pumped into our sea and into our homes.”
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The CEO is not there to ‘serve customers’, the CEO is there to ensure the company makes money, as that’s what limited companies are supposed to do.
It’s likely more profitable to break laws and pay fines than follow all the rules all the time, as some breaches are not going to be discovered or successfully prosecuted.