Yorkshire Labour MPs have addressed the chair of Yorkshire Water concerning 1.3 million in undisclosed payments to CEO Nicola Shaw. As water bills rise by 41% and issues arise with sewage pollution and infrastructure, concerns have intensified over executive payments. The company's previous defense states the payments originate from Kelda Holdings, its offshore parent company. MPs criticized Shaw for accepting payments contrary to her public stance against bonuses, demanding answers for the apparent lack of integrity. The company has been criticized for executive bonuses amid ongoing public discontent regarding water management.
At a time when constituents are facing a 41% increase in water bills, sewage is polluting our rivers, and pipes are bursting, the CEO is accepting payments that completely contradict her public statements. Nicola Shaw promised she would decline bonuses out of respect for public anger, while in private she accepts even more money.
The payments to Nicola Shaw total 1.3 million in previously undisclosed extra pay from Yorkshire Water's parent company, Kelda Holdings, for reasons including investor engagement and management of the Kelda Group.
The MPs' letter highlighted the need for full transparency over the payments, labeling it disgraceful that Ms Shaw has publicly refused bonuses while discreetly accepting large sums.
Yorkshire Water was one of six firms banned from paying unfair bonuses to their executives this year, amid growing public frustration over the water industry's financial practices.
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