Bosses’ bonuses banned at six water companies – BBC News

https://www.bbc.co.uk/news/articles/cdxvpr4qkyxo

Posted by atinywaverave

6 comments

  1. “Under the beefed-up Water Act, six firms are banned from paying bonuses this year including Anglian Water, Southern Water, Thames Water, United Utilities, Wessex Water and Yorkshire Water.

    The ban, which is backdated to April 2024, means regulator Ofwat can force firms to claw back bonuses that have been paid or face enforcement action. It applies to share awards as well as cash.”

  4. I can’t quite understand how these bonuses and dividends have been able to be paid in the first place?

    Are these supposed to be based upon profits?

    Where is the legal action, to bring individuals to account?

  5. This is all arse about face . Top quality management is exactly what these companies need. What they don’t need is paying vast amounts out to shareholders which sees the money disappear.
    They should be structured that the government own them and fund large investment in improvements (govt can borrow for investing in infrastructure and water infrastructure lasts a long time so = good investment) this promotes some economic growth and tangible improvements to environment and quality of life. But management and leadership is essential and crappy public sector wages are not the key- pay these managers and engineers well and expect top results – there will be lots of competition for the jobs and the best will get them.

  6. Exactly my thoughts – sends all the wrong messages. Those that have it get away with it, those that don’t get….

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