Wessex Water bosses handed £50,000 in extra pay despite Labour government's bonus ban

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Wessex Water's CEO and CFO Receive £50,000 Extra Pay Despite Bonus Ban

A revelation has emerged about the compensation package of Wessex Water's top executives, with the company's chief executive Ruth Jefferson and chief financial officer Andy Pymer receiving £50,000 in previously undisclosed extra pay from their parent company YTL.

The payments, which took place between July 2024 and October 2024, were made by YTL Ltd to support the executives' roles beyond their day-to-day responsibilities. According to Wessex Water Services, the regulated water supplier for over 2.9 million customers in south-west England, these additional fees were not bonuses.

The payments came into question when Labour MP Sarah Dyke pointed out that the UK government had banned bonuses for bosses at suppliers found guilty of environmental pollution. Six water companies, including Wessex Water, were affected by this ban due to past incidents, such as a major sewage pumping station failure that killed over 2,000 fish.

Jefferson and Pymer received £440,000 and £249,000 respectively from Wessex Water Services in the financial year 2024-25. However, it appears that the payment made by YTL Ltd was not subject to this ban because the two executives were no longer in their roles when the ban came into effect.

The source of these extra payments has raised concerns about transparency and accountability within YTL's executive compensation arrangements. Initially, the company declined to disclose the source of the payments but eventually revealed that they came from Wessex Water Ltd, which is a separate entity from Wessex Water Services. According to YTL, there was no requirement to report the costs separately because the executives were not directors of the parent company.

This issue highlights concerns about excessive executive pay and lack of transparency in water company governance. It also underscores the need for greater oversight and regulation of these corporations to ensure that they prioritize public interests over profits.
 
💸 just saw that Wessex Water's CEO & CFO got an extra £50k from their parent company despite a bonus ban 🤔 what's going on? shouldn't we know how our water suppliers are being compensated, especially when it comes to executive pay? seems like YTL is trying to keep this under wraps... transparency is key here 👀
 
I mean, come on 🤯! £50k from YTL Ltd to Wessex Water's top execs? That's just fishy 🐟... I remember when there was a major sewage disaster in the UK and it killed thousands of fish 🌊... I thought we were making progress with those water companies, but I guess not 💔. And now this? Extra pay for doing what they're supposed to do? Not exactly transparent about it either... it's like YTL Ltd just wanted to keep a low profile 🤐. Don't get me wrong, the execs still deserve some decent pay, but £50k? That's just too much 💸. I'm all for accountability and regulation in this case... we need to make sure these water companies are prioritizing public interests over profits 🌟.
 
OMG, like what?! £50k extra pay for top executives at Wessex Water? That's straight fire 💥, but I'm not here for it. Like, how can you just ignore a ban on bonuses after environmental pollution incidents? 🤯 It's all about transparency and accountability, fam! YTL needs to step up their game and be more open with their exec pay. This is like, so extra 💸. And what's with the "not directors of the parent company" thing? That just sounds like corporate speak for "we can get away with this". Not cool, YTL. Not cool 🚫
 
Ugh, I'm so disappointed in this news 🤕! £50k extra pay for top execs at Wessex Water is just excessive 💸. Can't we see how much money is being funneled towards the pockets of a few people while we're struggling to afford basic services like water? 🚽 It's all about accountability, you know? Shouldn't these executives be focusing on fixing our sewage problems and ensuring safe drinking water for everyone, not raking it in 💸. And what's with the lack of transparency? I mean, come on, £440k and £249k are some big numbers 🤑! We need to hold corporations like YTL accountable for their actions and make sure they're working for the people, not just lining their own pockets 💪.
 
Umm... so like, why do these CEOs still get paid extra if there's a ban on bonuses? 🤔 I mean, I know they're trying to support their roles but £50k is a lot, right? 🤑 It just feels weird that the government had one rule for water companies and another for YTL. Like, what's the point of having a ban if it doesn't apply to everyone who works there? 🤷‍♀️ And what's with the company not disclosing this info in the first place? Shouldn't they be more transparent about their pay packets? 💸
 
can u believe wat? these two execs at Wessex Water r gettin paid £50k extra by their parent co, YTL, CILENTLY 🤑👀 whilst the rest of us r stuck with rising water bills n sewage problems! its like they think their worth is more than just their job, u know? & now they're saying it's not a bonus cuz they weren't directors @ the time the UK gov ban came in... save it 💸
 
😒👀 50k is a lot, you know? Like, what's so special about these guys? They're already raking it in at £440k and £249k respectively... It just seems like more money for the sake of having more money. And to be all secretive about it too 🤐. I mean, shouldn't we be able to know where our water company's cash is coming from? It feels like they're playing by a different set of rules than everyone else. The UK government was right to ban bonuses after those water pollution incidents... this just seems like more of the same 🌎💧
 
🤔 I'm thinking, £50k for two people is a lot of dosh! 🤑 You'd think it's just basic pay, but nope, YTL Ltd is sneaky like that. It makes me wonder if there's more to this story than we're being told. Are these executives just doing their jobs or are they getting paid for more? 🤷‍♂️ I'm all for good compensation, but not when it seems like they're getting extra perks without anyone keeping an eye on it.

It also got me thinking about the Labour MP who brought this to light, Sarah Dyke. She's doing her job, holding these big companies accountable. It's a shame that some people think bonuses are just for show and don't have to be subject to rules. 🙄 The fact that YTL Ltd was able to pay these extra fees without reporting it properly is a clear case of lack of transparency.

In the end, this whole thing makes me want more regulation around executive pay. It's not fair to the public when corporations can just slip under the radar like that. We need to make sure our water companies are working for us, not just lining their own pockets 💦.
 
Ugh, £50k is a lotta cash! 🤑 I mean, I get it, people have families to feed too, but come on, you're getting paid £440k plus another £250k from your parent company? That's just crazy! 💸 I don't think that's right when there are rules about bonuses for bosses at companies that do bad things to the environment. 😐

And what's up with YTL Ltd not being upfront about this in the first place? 🤔 It's like they were trying to hide something from us. And now we're left wondering how much these execs are really getting paid and who's footing the bill... 🤑 It just doesn't sit right with me that there's all this money floating around without anyone holding them accountable.

We need to make sure these water companies are prioritizing our public interests, not just lining their pockets. 💧💸 It's time for some real change! 👊
 
omg like what is goin on wth wessex water tho?! £50k extra pay 4 ceso's despite bonus ban is just crazy 💸🤯 i mean i get it they wanna support the team but cmon 2 much? 💁‍♀️ shouldn't they be focusin on savin the environment instead of fillin their pockets 🌎💦 anywayz gotta wonder wth kinda deal went down between ytl & wessex water 4 them 2 get away w/ this 💸👀
 
omg u wont believe wessex water's top execs got a £50k bonus on top of their already crazy salaries lol, i mean i get it, they gotta be paid like that or they'll leave but still, its so sus how the gov banned bonuses for environmental polluters and these two just slipped through the cracks 🤔💸 ugh, transparency is literally everything when it comes to corporate governance... like, what's next? 😒
 
🤔 I'm all for holding execs accountable, but £50k from their parent company seems a bit steep. I mean, if they weren't getting bonuses (according to Wessex Water), why should YTL foot the bill? 🤑 It's like one pot of money doesn't equal two separate issues. We need more transparency on this stuff, especially when it comes to water companies that can have such a huge impact on public health 🚽💧. Maybe we should be looking at ways to standardize reporting requirements for these types of payments so we can get a clearer picture of what's going on behind the scenes? 💡
 
can you believe this? £50k extra pay for CEOs and CFOs who got caught out by environmental pollution scandals. like, what's next? is it okay to pay them to forget about the whole mess they made? 🤯💸 i mean, i get that they're trying to support their roles beyond day-to-day stuff, but come on, this is just a sneaky way of getting around the bonus ban. and now we're left with concerns about transparency and accountability in YTL's exec comp arrangements. shouldn't these companies be prioritizing public interest over profits? 🤷‍♀️💪
 
🤔 I'm low-key shocked that YTL just casually gave Ruth Jefferson and Andy Pymer an extra £50k without anyone even noticing 🤑. And what's even crazier is that it wasn't a bonus, so they technically got away with it 💸. It's like, you'd think the gov would've made sure these water companies are being held accountable after all those environmental disasters 🌎.

And can we talk about how sketchy YTL's "transparency" is? They were super secretive about the payments at first and only spilled the beans when Labour MP Sarah Dyke called them out 🔍. It just goes to show that these corporate giants think they're above the law, you know? 💪

We need more scrutiny on companies like this and more regulations to make sure they prioritize public interests over profits 📊. It's not fair that executives get to reap huge rewards without being held accountable for their actions 👎. The people should be getting better value from our tax dollars than these CEOs 💸.
 
I'm low-key fuming about this Wessex Water CEO getting an extra £50k from YTL 🤑👀. Like, I get it, executives gotta be paid, but £250k is a wild amount for non-bonus pay! What's the logic behind that? And why wasn't it disclosed in the first place? Transparency is key here, fam 💯. If we're gonna hold water companies accountable for environmental damage, shouldn't their top dogs be held to similar standards of accountability? It just feels like another example of corporations prioritizing profits over people 🤷‍♂️. Someone needs to dig deeper into YTL's executive comp plans and make sure this isn't a recurring issue 💪.
 
🤔 I'm thinking, £50k is a pretty penny, especially when you consider it's just an extra payment from their parent company. It raises some eyebrows about what really goes on behind the scenes at YTL and Wessex Water. They say it wasn't a bonus, but still, it's a nice bit of extra cash for the execs. The fact that they didn't have to report these costs separately is suspicious too - it makes you wonder if there's more to this story than we're being told... 🤑
 
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