Stagecoach boss Martin Griffiths loses £302,000 bonus 


Stagecoach boss Martin Griffiths loses £302,000 bonus

City & Finance Reporter for the Daily Mail

Martin Griffiths took home £987,000 overall from the transport group, compared to £1.3m the year before when his pay included a £302,000 bonus

Martin Griffiths took home £987,000 overall from the transport group, compared to £1.3m the year before when his pay included a £302,000 bonus

Martin Griffiths took home £987,000 overall from the transport group, compared to £1.3m the year before when his pay included a £302,000 bonus

The boss of Stagecoach has been stripped of his bonus after it had to hand back the East Coast train franchise to the Government earlier this year.

Chief executive Martin Griffiths, 52, took home £987,000 overall from the transport group, compared to £1.3m the year before when his pay included a £302,000 bonus.

Transport Secretary Chris Grayling put the London-Edinburgh rail-line back under state control in May.

Stagecoach ran the franchise with Virgin Group but struggled financially. 

Grayling said Stagecoach would lose about £200m from the collapse of the deal.

The firm’s pay committee said ‘the outcome achieved on the Virgin Trains East Coast franchise is disappointing’.

 

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