Senior managers at Scottish Water paid themselves more than £1.5 million last year including a £369,000 bonus despite most state-employed staff having to endure a pay freeze.
According its annual report, the quango’s dozen board members earned £1.57 million in the 2011/12 tax year. This is an average of £131,000 each and almost seven per cent more than they were paid the previous year. The total includes the bonus, which was paid only to the five executive members. They each received an average of £73,800 in addition to their basic salaries. In addition, the four longest serving members of the board have racked up pension pots worth a total of £3.8 million.
Richard Ackroyd, Scottish Water’s chief executive, retained his position as Scotland’s highest paid public sector employee, earning a basic salary of £263,000, a bonus worth £105,000 and other benefits totalling £12,000. His £380,000 remuneration package was eight per cent higher than the previous year. In addition he has a retirement pot worth nearly £1.6 million.
Geoff Aitkenhead, the asset management director, received an extra £69,000 as part of his £252,000 remuneration package. Chris Banks, the commercial director, earned a £64,000 bonus, bringing his total wage packet to £234,000. Peter Farrer, the customer service delivery director, received a bonus worth £62,000 and total remuneration of £228,000. Douglas Millican, the finance and regulation director, was paid £253,000 last year, including a £69,000 bonus.
A spokesman said: “Whilst there has been considerable debate recently about incentive payments to directors in all areas of the business world and particularly rewards for directors of businesses which have failed, Scottish Water can clearly be seen to be an outstanding Scottish success story.”
So, where did the actual workers share disappear to?
According its annual report, the quango’s dozen board members earned £1.57 million in the 2011/12 tax year. This is an average of £131,000 each and almost seven per cent more than they were paid the previous year. The total includes the bonus, which was paid only to the five executive members. They each received an average of £73,800 in addition to their basic salaries. In addition, the four longest serving members of the board have racked up pension pots worth a total of £3.8 million.
Richard Ackroyd, Scottish Water’s chief executive, retained his position as Scotland’s highest paid public sector employee, earning a basic salary of £263,000, a bonus worth £105,000 and other benefits totalling £12,000. His £380,000 remuneration package was eight per cent higher than the previous year. In addition he has a retirement pot worth nearly £1.6 million.
Geoff Aitkenhead, the asset management director, received an extra £69,000 as part of his £252,000 remuneration package. Chris Banks, the commercial director, earned a £64,000 bonus, bringing his total wage packet to £234,000. Peter Farrer, the customer service delivery director, received a bonus worth £62,000 and total remuneration of £228,000. Douglas Millican, the finance and regulation director, was paid £253,000 last year, including a £69,000 bonus.
A spokesman said: “Whilst there has been considerable debate recently about incentive payments to directors in all areas of the business world and particularly rewards for directors of businesses which have failed, Scottish Water can clearly be seen to be an outstanding Scottish success story.”
So, where did the actual workers share disappear to?
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