Submitted on Friday 7th June 2013
Published on Wednesday 12th June 2013
Current status: Closed
Closed: Thursday 12th September 2013
Signatures: 2
Link rail boss bonuses to performance targets
Today it was reported by the BBC that Network rail missed all of its punctuality targets (according to the rail regulator). However the top five executives of this organisation received bonuses totalling 17% of their salaries. These awards further highlight the almost automatic provisioning of cash to executives despite their companies failing to deliver what customers are paying for.
This inappropriate bonus structure is particularly galling because the railways are heavily subsidised by taxpayers. Money that could otherwise go to improving infrastructure and performance is being handed out to these executives on top of their grossly inflated salaries.
This should be stopped and the awards only given if it can be shown that they shepherded their companies in a way that meets or exceeds expectations. If they do not meet these targets then bonuses should be stopped. Procedures must put in place to assess and rectify the problem rather than allowing it to continue year after year.
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