Home Business News Centrica boss receives 44 per cent pay rise

Centrica boss receives 44 per cent pay rise

by LLB Reporter
8th Apr 19 4:03 pm

Iain Conn chief executive of Centrica which owns British Gas, has received a 44% pay rise last year to £2.4m.

He is paid a whopping 72 times more than that of an employee.

Despite Centrica having a “challenging year” and warned profits will be hit by the energy price cap, the pay rise was still awarded.

His pay rose from £1.7m in 2017 as Conn did not receive a bonus, in 2016 he was paid a total of £4m.

The companies’ annual report said Conn was “reshaping” the firm against the “challenge of a constantly shifting operating environment.”

“Iain has shown significant resilience in the face of this challenge and has led the business through the shifting context, keeping the strategic objectives in sight and ensuring that the organisation remains adaptable and innovative.”

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