Gas chief earns £5,100 a day

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News of chief executive Sam Laidlaw's £1.87 million package - more than £5,100 a day - comes weeks after a five-fold increase in British Gas profits to £571 million last year sparked outrage from consumer groups.

British Gas, which hiked its energy bills in January, hauled in the profits last year after waiting to pass on cheaper wholesale gas costs to customers.

Mr Laidlaw oversaw a 40% increase in operating profits across the overall group to £1.95 billion last year.

His salary of £873,000 - £23,000 higher than the previous year - was boosted by a £753,000 bonus and other benefits totalling £244,000, Centrica's annual report said.

The bonus represented 85% of his salary - compared with a possible 125% - although from this year his potential maximum will be 180%.

At the end of last year he owned 341,964 shares currently worth more than £1 million.

He was also allocated shares worth a potential £3.5 million under two incentive schemes, although how much of this pot he eventually receives will depend on the company's future performance and he cannot vest any shares until the middle of next year.

Mr Laidlaw's bonus incentives included transforming the company, developing growth business, securing more gas and power and cutting costs across the group.

The group trimmed its British Gas residential workforce by 2,000 last year - saving £139 million - and said up to another 1,000 roles will go in 2008 as it looks to save a further £60 million.