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Rail boss loses out on £371,000 bonus after planning engineering work that caused Christmas delays Rail boss loses out on £371,000 bonus after planning engineering work that caused Christmas delays
(2 days later)
The Network Rail boss who masterminded this year’s Christmas engineering programme that caused travel chaos for thousands will not be getting a bonus worth as much as £371,000, it has been announced.The Network Rail boss who masterminded this year’s Christmas engineering programme that caused travel chaos for thousands will not be getting a bonus worth as much as £371,000, it has been announced.
The publicly owned company’s managing director of network operations Robin Gisby is stepping down at the end of February and will not be receiving his “golden goodbye”.The publicly owned company’s managing director of network operations Robin Gisby is stepping down at the end of February and will not be receiving his “golden goodbye”.
A spokesperson for the firm said the decision was not linked to the overrunning engineering work, however.A spokesperson for the firm said the decision was not linked to the overrunning engineering work, however.
The company has scrapped its long-term incentive plan for its top executives but still plans to pay out annual performance related bonuses.The company has scrapped its long-term incentive plan for its top executives but still plans to pay out annual performance related bonuses.
Robin Gisby, who presided over the Christmas rail fiasco and is retiring early next year The annual bonus is limited to 20% of salary and would still entitle chief executive Mark Carne, who is on a salary of £675,000, to a bonus of up to £135,000.Robin Gisby, who presided over the Christmas rail fiasco and is retiring early next year The annual bonus is limited to 20% of salary and would still entitle chief executive Mark Carne, who is on a salary of £675,000, to a bonus of up to £135,000.
Whether he and the company’s other directors receive their bonuses for 2014/15 will be up to its remuneration committee.Whether he and the company’s other directors receive their bonuses for 2014/15 will be up to its remuneration committee.
Britain's railway watchdog announced at the weekend that it would investigate the chaos in London and around the country caused by overrunning engineering work as thousands of people tried to head home after Christmas.Britain's railway watchdog announced at the weekend that it would investigate the chaos in London and around the country caused by overrunning engineering work as thousands of people tried to head home after Christmas.
London King's Cross station was closed to all trains and Finsbury Park, where services were diverted, closed because of overcrowding as it was swamped by huge crowds.London King's Cross station was closed to all trains and Finsbury Park, where services were diverted, closed because of overcrowding as it was swamped by huge crowds.
Louise Ellman, the MP who chairs Parliament’s Transport Select Committee, said this morning that the weekend’s disruption showed there was a “major problem” with the organisation.Louise Ellman, the MP who chairs Parliament’s Transport Select Committee, said this morning that the weekend’s disruption showed there was a “major problem” with the organisation.
“Network Rail is now fully in the public sector and it has to be accountable for the money that it has, and it has to become more efficient and reliable,” she told BBC Radio 4’s Today programme.“Network Rail is now fully in the public sector and it has to be accountable for the money that it has, and it has to become more efficient and reliable,” she told BBC Radio 4’s Today programme.
“There is an investigation under way, but we need to have answers, including the answer of where the chief executive was and whether he was on top of what was going on, because clearly many, many people were let down.”“There is an investigation under way, but we need to have answers, including the answer of where the chief executive was and whether he was on top of what was going on, because clearly many, many people were let down.”
In October ministers confirmed that Network Rail, which runs and operates Britain’s train tracks, tunnels and bridges, would not have to answer Freedom of Information requests about controversial issues such as cost overruns, accidents and delays until after next year’s general election.In October ministers confirmed that Network Rail, which runs and operates Britain’s train tracks, tunnels and bridges, would not have to answer Freedom of Information requests about controversial issues such as cost overruns, accidents and delays until after next year’s general election.
In the wake of a dire set of performance figures last month, Network Rail’s chief executive, Mark Carne, was warned by the industry’s regulator that his organisation was failing passengers.In the wake of a dire set of performance figures last month, Network Rail’s chief executive, Mark Carne, was warned by the industry’s regulator that his organisation was failing passengers.
Richard Price, head of the Office of Rail Regulation, told Mr Carne at a meeting in November that the organisation had to improve.Richard Price, head of the Office of Rail Regulation, told Mr Carne at a meeting in November that the organisation had to improve.
The organisation missed its punctuality target in the most recent set of figures, with 50,000 more trains than had been expected running significantly late.The organisation missed its punctuality target in the most recent set of figures, with 50,000 more trains than had been expected running significantly late.
Network Rail’s finances are also expected to be £112m over budget this year and analysis by the regulator showed that its poor access to crucial data means it is reacting to problems on the network instead of anticipating and fixing them early.Network Rail’s finances are also expected to be £112m over budget this year and analysis by the regulator showed that its poor access to crucial data means it is reacting to problems on the network instead of anticipating and fixing them early.
In a statement, Network Rail said: "It was announced in September that Robin would be leaving Network Rail early in the new year and that his successor would be Phil Hufton, who joins Network Rail on the 5th January 2015. It is therefore inaccurate to suggest that Robin's departure is in any way connected with any of the events of the last few days.
"The timing of Robin's departure, 28 February 2015, means that he cannot be entitled to any bonus or incentive payment in 2015 either before or after his departure."