AGGREKO chief executive Chris Weston received a pay package worth almost £1.5 million in his first year leading the temporary power specialist.
The Glasgow company’s annual report shows that Mr Weston received total remuneration of £1,485,516 in 2015 including a hefty one off payment he received after giving up a big job at Centrica to run Aggreko.
The report states Mr Weston was awarded £483,392 to compensate him for the annual bonus he forfeited as a result of his resignation from Centrica, where he lead the Scottish Gas and British Gas operations.
He was appointed on a basic salary of £750,000.
The 2015 remuneration package also included £225,000 pension payments, £22,853 benefits and £4,271 in respect of money saved in Aggreko shares.
Mr Weston received no bonus from Aggreko as the relevant targets were not met.
Announcing Mr Weston’s appointment, in May 2014, Aggreko said he would be awarded a £2.2 million golden hello to compensate him for lost Centrica share options.
Aggreko saw underlying profits fall 13 per cent to £252m last year when the oil price fall posed challenges.
The group, which operates in around 100 countries, announced last summer that it was cutting about 700 jobs.
Mr Weston’s predecessor Rupert Soames received total remuneration of £1.8m in his last full year in charge, 2013.
He earned a basic salary of £675,000 an annual bonus of £586,228 and long term incentive plan awards worth £269,327.
Mr Soames left Aggreko in April 2014 after 11 years in charge to lead outsourcing company Serco.
Former finance director Angus Cockburn and chairman Ken Hanna took charge temporarily until Mr Weston joined in January.
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