WOOD chief executive Robin Watson has seen the value of his pay package soar by 20 per cent, to £1.4 million from £1.18m, after his bonus almost doubled.

The annual report of the Aberdeen-based engineering giant shows Mr Watson earned a bonus of £623,000 for 2017, compared with £320,000 in the preceding year.

The bonus reflected his role in Wood’s £2.2 billion takeover of Amec Foster Wheeler. Directors believe this will boost growth at Wood by taking the group into new markets and reducing its reliance on the oil and gas business.

Mr Watson earned £600,000 salary in each of the last two years.

The value of long term incentive awards to Mr Watson which vested in the latest year fell to £93,000 from £156,000