HC Deb 02 April 1996 vol 275 cc170-1W
Ms Gordon

To ask the Secretary of State for the Environment to what extent the salary of the chief executive of the London Docklands development corporation is performance related; what targets are used to measure his performance; and what account is taken of the income from the sale of land. [24106]

Sir Paul Beresford

The employment contract of the London Docklands development corporation's chief executive provides for an annual zsalary reviewable by the corporation's remunerations committee each year. Any increase proposed by the committee and supported by the corporation's board is subject to the approval of the Secretary of State with the consent of the Treasury. In addition, the chief executive is eligible for a non-consolidated performance-related payment of up to 10 per cent. each year at the discretion of the committee. The targets against which the chief executive's performance is measured are set by the committee and supported by the board. Income, from whatever source, is just one aspect of over 30 benchmarks designed to assess the effectiveness of the chief executive's overall operational and financial management for the purposes of performance-related pay.

Details of the chief executive's remunerations are contained in the corporation's published annual report and financial statements. Copies are placed in the House Libraries each year.