Wessex Water's CEO, Ruth Jefferson, has sparked outrage with a massive 14% pay increase to £670,000, just a month after the company was slapped with a ban on bonuses due to its poor handling of sewage spills. The move has been met with fierce criticism from the union, who argue that the public is "sick of obscene pay" and that CEOs are "feathering their own nests" while workers struggle to make ends meet. The pay hike, which far outstrips the 3.5% increase given to employees, has also highlighted the stark pay gap between top executives and the median worker, with Jefferson's salary now standing at a staggering 18 times that of the company's average employee. As the UK grapples with cost-of-living crises, the move is likely to fuel calls for greater transparency and accountability in corporate pay practices.
CEO’s pay packet surges to £791,000 as union says public ‘sick of obscene pay’ and bosses ‘feathering own nests’Wessex Water awarded its chief executive an above-inflation pay increase even as the company was banned from paying bonuses because of sewage spills, it has emerged.Ruth Jefferson received a 14% base salary increase in October, from £590,000 to £670,000, before other benefits, according to accounts published this month. It was far above the 3.5% given to workers, and put her pay at 18 times that of the company’s median employee. Continue reading...
