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Network Rail boss agrees to bonus cut
Dick Murray14 May 2009
Network Rail boss Iain Coucher was today forced to give up his full bonus of up to £600,000 — but will still take some and will not waive it in future years.
Other NR directors could take bonuses of up to £400,000. Mr Coucher said he was “mindful of current sentiment” so made a “personal decision” not to take the full bonus, denying being swayed by ministers.
NR's bonus scheme has two parts, annual and long-term payments. Mr Coucher, whose salary is £600,000, will only give up the first — how much the second is worth is not yet known.
The Standard uncovered an NR document in February which showed directors were in line for six- figure bonuses, despite continuing train delays because of weekend engineering.
Lord Adonis, the transport minister, said NR should respond to the public mood when deciding bonus levels.
Reader views (2)
How generous of him!
NR & the Train Operating Companies are nothing more than bunch of licensed bandits, ripping off the public.
- Lb, Bromley, 15/05/2009 03:24
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About time we got off the 'phoney bonus' merry go round. These bonuses are paid regardless of performance.
- Michael Murphy, colchester, 14/05/2009 17:41
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