Boss of British Gas owner handed £4m pay rise after admitting he ‘can't justify' wages [Yahoo! Finance]
CENTRICA PLC S/ADR (CPYYY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Chris O'Shea, who is chief executive of British Gas owner Centrica, was previously paid £4.5m in 2022. When asked about his pay packet during a BBC interview in January, Mr O'Shea admitted that “you can't justify a salary of that size” given the difficulties some customers face when paying their energy bills. However, this has not stopped him from accepting bonus payments of £7.3m in 2023, as his total pay ballooned to £8.2m. The company's annual report said the surge in pay stemmed from Centrica's “continued improvements in underlying performance and substantial share price growth”. In 2023, British Gas profits surged tenfold to £751m compared with £75m a year earlier, while shares in the business have risen by more than 22pc in the last 12 months. The bonuses have been paid despite the prepayment meter scandal in February 2023 that exposed how British Gas debt collectors broke into the homes of vulnerable people to force-fit meters. The revelations led to a temporary se
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