Water industry bonus ban to be tightened as Ofwat warns of ‘damage to public trust’
by Jasper Jolly from World news | The Guardian on (#79PS3)
Regulator to hasten review over concerns that firms are undermining' rules to make large payments to bosses
The water company bonus ban is set to be tightened after the regulator accused the industry of a risk of damaging public trust" with large payments to bosses that appeared to get around the rules.
Anglian Water was singled out for particular criticism over retention payments" worth up to 800,000 for chief executive Mark Thurston despite the bonus ban. Anglian will face increased monitoring of its governance arrangements because of the controversial payments.
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