Network Rail directors to pocket big bonuses despite failure
Network Rail directors to pocket big bonuses despite failure

The current move of Network Rail to pay six figure bonuses to its directors despite mishandling the £9 billion upgrade of the West Coast Main Line has made industry regulator and Lord Adonis' hackles rise.

The move came in less than two months after the rail regulator pointed out company's shortcomings.

The chief executive of the company, Iain Coucher, the group infrastructure director, Peter Henderson and the former financial director, Ron Henderson will get £150,000, £329,000 and £219,000 respectively as annual bonus. However, earlier this year Iain Coucher announced that he would not take his annual bonuses.

Politicians and unions have also condemned the payments.

Office of Rail Regulation' chief executive, Bill Emery, said, "We are surprised and disappointed that Network Rail's non-executive directors decided not to exercise their discretion to reduce significantly the bonuses for its senior executives."

£740 will be disbursed to all 35,000 Network Rail staff.

Last year Network Rail was fined £14 million by the regulator as the company allegedly breached its licence by delaying its passengers when engineering works overran.

Liberal Democrat transport spokesman, Norman Baker showed his anger by saying that Network Rail bosses are being rewarded for failure.

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