Centrica Boosted CEO Pay as Families Struggled With Energy Debt [Financial Post (Toronto, Ontario, Canada)]
CENTRICA PLC S/ADR (CPYYY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The Chief Executive of Centrica Plc got a bumper pay raise last year while millions of households across the country struggled with energy debt. Chris O'Shea's total remuneration in 2023 was £8.23 million ($10.4 million), up from £4.49 million a year earlier, the company said in its annual report on Tuesday. Article content “Centrica's performance and share price growth are the most significant factors that determine our CEO's remuneration,” Carol Arrowsmith, head of the firm's remuneration committee said in an emailed statement. O'Shea has “beaten nearly all the stretching performance targets set by the committee.” Article content The bumper payout is likely to draw criticism as UK energy bills remain high even as inflation is dropping. Centrica stepped up payouts to its shareholders after profits at British Gas, its retail energy unit jumped
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