The chief executive of Perth transport group Stagecoach has seen his pay package top £1.8m after he was awarded a bumper bonus in the last financial year.

Martin Griffiths received an £848,000 bonus on top of his £652,000 salary. Together with pension benefits his total package hit £1.803m, up from £987,000 the previous year when he had declined a bonus. It was highest pay package since 2014 when he was awarded £2.2m.

 

Finance director Ross Paterson was awarded a £565,000 bonus on top of his £435,000 salary for a total package of £1.22m, up from £867,000.

The firm’s remuneration committee said the bonuses awarded, the maximum available under the scheme, were based on the performance of the two executives against financial and personal objectives set.  Factors including the successful sale of the group’s North American division were cited.

Half of the bonuses were paid in cash with the other half in deferred shares.

Chairman Sir Brian Souter received fees of £217,000, unchanged from previous year.



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