Southern Water nearly doubles CEO pay to £1.4m despite bonus ban

Lawrence Gosden’s award comes amid high levels of corporate debt, serious sewage leaks and recent hosepipe ban

Southern Water has nearly doubled its chief executive’s annual pay package to £1.4m despite financial difficulties and a government ban on it awarding bonuses.

Lawrence Gosden was awarded £691,000 under a “two-year long-term incentive plan” (LTIP), on top of fixed pay of £687,000 in its last financial year, according to the company’s annual report published this week.