Tim O'Toole, chief executive of FirstGroup, saw his total remuneration come down from £1.98million to £1.65m last year, according to the annual report published yesterday.
His salary was unchanged at £846,000, the bonus was down by£22,000 at £578,000 and the pension contribution was down £3000 at £176,000. But there was no repeat of the 2013 award of free shares worth £324,000, which were released to Mr O'Toole in November 2013 when the shares were 122.9p - almost exactly their level yesterday. The report says Mr O'Toole, 59, can continue to accrue defined benefits beyond the pension scheme's retirement age of 60.
Chris Surch, finance director, who announced last week that he was stepping down after three years for personal reasons, received a total £797,000 last year, down by £10,000.
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