Southern Water’s boss pocketed over £700,000 in the last financial year as customers prepare for a hike in their bills. The water firm’s annual report and financial statements shows chief executive Lawrence Gosden was paid a base salary of £480,000 and received a bonus of £183,000. He also received £28,600 in benefits and £72,000 in pension contributions, bringing his total remuneration to £764,000.
The report also showed that from April 1, Mr Gosden’s salary increased to £500,000, a rise of 4.3 per cent. None of the firm's executives took a bonus the previous year .
Stuart Ledger, Southern Water's chief financial officer, was paid a salary of £371,000, benefits of £70,000, a bonus of £128,000 and a pension contribution of £40,000, bringing his total remuneration to £610,000. A Southern Water spokesman said the bonuses will be paid for by shareholders and not customers and were awarded on the basis that there were “significant advances in treated water quality, a reduction in overall pollution numbers and falling customer complaints”. “Having declined a bonus last year, Southern Water’s CEO and CFO will receive a partial bonus in 2024, paid by shareholders rather than from customers' bills, after the board’s remuneration committee acknowledged progress made in delivering on the company’s ambitious Turnaround Plan," he said.
“Despite the region’s wettest year on record, the committee highlighted significant advances in treated water quality, a.