Thames Water bosses turn down bonuses due to poor performance

By Joe Acklam

9th May 2023 | Local News

Thames Water bosses forego performance based bonuses. Photo: ChristianSW.
Thames Water bosses forego performance based bonuses. Photo: ChristianSW.

Two top Thames Water executives have announced that they are forgoing their bonuses this year due to the poor performance of the company. 

Thames Water have come under a large amount of scrutiny this year after there have been many cases of raw sewage being discharged into the Thames, which is detailed on the company's own interactive map. 

Chief executive Sarah Bentley and Chief finance officer Alastair Cochran have issued a statement saying that they will be giving up their performance related bonuses, having been given £496,000 and £298,000 respectively in 2022. 

In a statement, Bentley said: "We are a relatively new team executing an eight-year turnaround plan to transform Thames Water and we have taken some important steps forward this year.   

"I am proud of the work my team is doing in starting to address the poor state of our asset base and unacceptable standards of service for our customers. 

"Nevertheless, the turnaround plan is not yet where I want it to be primarily due to significant headwinds from extraordinary energy costs, coupled with two severe weather events.  

"These have hit our customer and environmental performance. Against this backdrop it simply doesn't feel right to take my bonus this year." 

Thames Water announced that they are in the second year of their eight-year turnaround plan, as part of which they have moved their customer call centre from South Africa to Swindon, and expanded their leak repair team. 

They also mentioned that last year they began a £1.6 billion programme designed to help prevent sewage discharge into rivers in the last year. 

     

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