Unite urges Centrica shareholders to reject CEO’s ‘obscene’ bonus at AGM
- Monday 12 June 2023
Prepaid metre scandal and energy profiteering means Centrica boss Chris O’Shea should not receive £3.7m bonus
Unite, the UK’s leading union, has called on Centrica shareholders to reject the remuneration package for chief executive officer (CEO) Chris O’Shea at the firm’s annual general meeting tomorrow (Tuesday).
On top of his annual salary of £790,000, Mr O’Shea is set to receive a cash bonus of £1.42 million and a long-term share bonus of £2.3 million.
Mr O’Shea presided over British Gas, which is owned by Centrica, when it sent debt enforcement agents to break into the homes of vulnerable customers to install prepay metres.
As a direct result of the energy crisis, which has seen people’s electricity and gas bills soar to unaffordable heights, Centrica’s profits tripled in 2022 to a record-breaking high of £3.3 billion.
Unite general secretary Sharon Graham said: “Chris O’Shea’s apology for British Gas sending debt enforcement agents to break into the homes of its poorest and most vulnerable customers to install prepay metres means nothing. He’s still laughing all the way to the bank with a £3.7 million bonus.
“Centrica’s shareholders need to vote his remuneration package down. Mr O’Shea’s obscene bonus is just one glaring example of the epidemic of profiteering afflicting the country. Corporate greedflation is breaking our economy and something needs to be done about it.”
For media enquires ONLY contact Unite communications officer Ryan Fletcher on 07849 090215.
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Unite is Britain and Ireland’s largest union with members working across all sectors of the economy. The general secretary is Sharon Graham.