Crossrail bosses will not hand back lucrative bonuses despite announcing that the project is running almost a year late and coming in £590M over budget.
Crossrail bosses took home more than £800,000 in bonuses last year, with the project’s chief executive Simon Wright pocketing a £105,568 bonus on top of his £328,873 salary.
Former chief executive Andrew Wolstenholme, who quit the project in March, also took home a £160,000 bonus and £97,734 as “compensation for loss of employment”.
However, New Civil Engineer understands that not a single penny will be returned despite a nine month delay to the Elizabeth line’s opening.
A spokesperson for Crossrail Limited said: “The Elizabeth line is one of the most complex and challenging infrastructure projects ever undertaken in the UK.
“Any bonus payable to Crossrail Limited employees is based on both company performance against KPIs agreed by the Crossrail Board and individual performance.
“The Crossrail Limited senior leadership team can earn performance payments based on performance criteria and project milestones being met.
“Any performance payment made for a particular financial year are because performance criteria and project milestones had been met and delivered in that year.”
Handing back bonusses would be a rare – but not unprecedented – event. Earlier this year, former Network Rail chief executive Mark Carne turned down his £74,000 bonus in the wake of the timetabling saga.
Transport for London’s draft annual report for the financial year to March 31 2018 detailed the bonuses for 20 Crossrail executives with a salary of more than £150M.
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