Britain’s biggest water companies have come under the spotlight as the nation swelters during what could become the worst drought in 500 years, with hosepipe bans introduced across much of England in an attempt to fend off shortages.
Anger is growing over the huge sums handed to their shareholders and executives, given the companies’ record on tackling leaks and pollution and their failure to build more reservoirs. Politicians and campaigners are now calling for water company bosses to have their bonuses banned until they tackle these issues.
The bosses of England’s privatised water companies have been criticised for banking £58m in pay and benefits over the last five years. Since privatisation, shareholders have been paid £72bn in dividends. The cash came from big debts, with companies borrowing £56bn, and big bills, with prices rising 40%. So how much exactly are the different companies are their bosses being paid?
Area: Greater London, parts of Kent, Essex and GloucestershireChief executive: Sarah BentleyPay: £2mTenure: September 2020 – present
Bentley landed £2m in pay and bonuses last year. She held senior roles at the telecoms giant BT, the consultancy Accenture and Severn Trent Waterbefore joining Thames Water with a £3.1m “golden hello”, including two £727,000 one-off payments. Last year, the firm was fined £4m for discharging raw sewage in two Oxford streams.
Area: East of England including Norfolk and CambridgeshireChief executive: Peter SimpsonPay: £1.3mTenure: 2013 – present
Simpson has led the group for nearly a decade, and was its managing director before that. He is a past president of the Institute of Water and faced criticism last month when the Guardian revealed he had landed a £337,651 bonus despite the
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