Thames Water gave finance boss a £1m signing-on fee

The seven-figure payment was given to Steve Buck as part of package to persuade him to join the troubled utility company.

Thames Water faces row over £1m payment to finance chief

Campaign group says firm is ‘taking the mickey’ by paying fee and Andy Burnham should nationalise it Business live – latest updates Thames Water has paid its chief financial officer, Steve Buck, a £1m signing fee despite intense scrutiny of Britain’s biggest water company’s finances as it tries to avoid being taken into public control. The utility revealed that it made the payment last month, in a letter sent last week by Sir Adrian Montague, its chair, to MPs on the environment, food and r...

By Jasper Jolly

UK water firm gives US$1.35 million payout to finance boss despite massive debt

Thames Water has handed a delayed £1 million (US$1.35 million) “golden handshake” payment to its chief financial officer and agreed controversial retention payouts to top bosses despite its battle to secure its financial future. The stricken supplier, which is sinking under a debt pile of more than £20 billion, disclosed in a letter to the Environmental, Food and Rural Affairs Committee that it had made the so-called signing-on payment to Steve Buck at the end of July from an emergency lendin...

By dpa

Thames Water hands £1 million payout to finance boss despite stricken finances

The supplier has also reached settlement on controversial retention payments to 14 current and former senior executives.

By Holly Williams