§ Mrs. BeckettTo ask the President of the Board of Trade (1) if he will limit the extent to which pay for directors of British Energy can be increased after privatisation; [26621]
(2) what discussions have taken place between his Department and British Energy regarding directors' remuneration after privatisation; [26619]
(3) if he will list the share options and other bonuses available to directors of British Energy after privatisation; [26618]
(4) if he will name the top 10 paid employees of British Energy with their (a) pay and (b) other remuneration (i) currently and (ii) a year ago. [26620]
§ Mr. LangPolicy on executive remuneration for the future will be given in the pathfinder prospectus for British Energy, to be published in the summer, and will include full details of current executive pay. The current basic annual salaries of the executive directors of British Energy plc are:
- Dr. Robert Hawley (Chief Executive): £200,000
- Mr. Michael Kirwan (Finance Director): £179,137 (inclusive of 14.1 per cent. contribution for personal pension)
Basic salaries paid to Dr. Hawley and Mr. Kirwan in 1995–96 were £190,485 and £171,496 respectively. The latter figure also includes 14.1 per cent. pension contribution. Full remuneration details in respect of 1995–96 for Dr. Hawley and Mr. Kirwan will be included in the annual report and accounts of Nuclear Electric plc.