The boss of scandal-hit
train firm Avanti's parent company has been awarded a £1m share bonus while passengers suffer chaos on the railways and strikes continue, it's been revealed.
Travellers on the West Coast main line battled a stripped-back timetable this week - and Andy Burnham, the Mayor of Greater Manchester, said he would
ask the new Prime Minister to strip Avanti West Coast of its contract if it doesn't produce an acceptable plan to improve their service.
Yet FirstGroup chief executive Graham Sutherland was given 972,590 shares on Thursday under the firm’s long-term incentive plan,
reports The Mirror. He will be able to cash in the bonus after five years, “subject to satisfaction of performance conditions and continued employment”.
The share price for FirstGroup, which owns 70% of Avanti, was £1.10 today - suggesting the haul could be worth just over £1m if the value holds up. Separately Mr Sutherland bought 100,000 shares for £115,000 on Wednesday. Chief Financial Officer Ryan Mangold was also awarded 1,003,226 shares under two long-term bonus plans, which take three to five years to cash in subject to conditions.
In response Mr Burnham told the Mirror: “If these bosses had any decency they would read the room and hand these bonuses back. Passengers who have been forced to stand on packed services or left behind on platforms will be furious at these payments.