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Outgoing rail chief Coucher to receive £1.25M in pay and bonuses

Network Rail outgoing chief executive Iain Coucher will walk away with £1.25M in pay and bonuses for 2009/10, the rail infrastructure owner and operator said today.

The payment includes £613,000 for his salary plus a £348,184 annual incentive as well as £293,165 for last year from a three-year incentive plan.

The firm’s six executive directors received annual incentives totalling £1.3M. The board had cut the figure by 20% and also decided to freeze salaries.

Chairman Rick Haythornthwaite said this year’s bonus scheme would now be reviewed. “I have ordered a review of how we can better align executive remuneration with expectations of passengers and public,” he said. “As part of this review the views of our stakeholders and regulator will be sought and the scheme for 2010/11, suspended.”

Network Rail achieved 71% of targets set for it over the same period.

Readers' comments (2)

  • Iain Coucher's salary is much too high, especially considering that he is running a government department, no matter what he says to the contrary. He has now added insult to injury by claiming the incentive and bonus; all this by achieving only 71% of his targets and the deaths of three railway workers during the last year. Why have a Rail Regulator if it cannot reign in such incompetence and greed? If most of us achieved only 71% of our targets we would probably face, at the very least, a reprimand and we certainly wouldn't receive a bonus.

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  • Yes, no matter what is said, this is certainly government department or at least a substantially taxpayer owned industry yet I was informed that as a 'private company' the Feeedom of Information Act 2000 did not apply to them. I cannot see why one cannot find out the number and location of Signals Passed at Danger (SPADs) given the similarity to lights at level crossings currently subject to so much controversy in the North of Scotland and British Transport Police action against motorists.

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