• From The BBC:

    Transport tycoon Brian Souter handed over his £1.6m bonus to his company’s pensioners and his charity. The Stagecoach chief executive was eligible for the bonus, built up over three years, at the end of last year. Instead, pensioners each received a £100 payment before Christmas, the company’s annual report revealed. Along with other directors and 50 senior Stagecoach managers, Mr Souter had his pay frozen this year and no bonuses will be paid. The annual report says Mr Souter’s basic pay stands at £553,000. He is foregoing the £253,000 cash bonus he received last year, but he is entitled to a doubling of last year’s bonus in shares deferred for three years, which is currently valued at £525,000. In total, the chief executive will have a pay package of £1.1 million. At the end of April, he owned more than 108 million ordinary shares in Stagecoach, worth £134 million. With 25,000 employees across 20 bus companies and two rail franchises, most st…

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    Posted by Jon @ 8:43 pm

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