Thames Water has written to the Committee today to report its
decision on the tranche of ‘management retention payments'
expected to be paid to senior company employees.
The Chair of Thames Water, Sir Adrian Montague, writes that the
Board has decided to ‘maintain the pause in respect of the
Management Retention Plan', with the result that no payments will
be made in December 2025. He adds that ‘Payments in the
future remain under review.'
The Chair of the EFRA Committee, MP, said:
“It's important that the focus of Thames Management is on turning
round the company and not on rewarding staff and having to handle
negative headlines. The public is rightly furious at the prospect
of senior staff in a company with the performance record of
Thames receiving bonuses. We will continue to monitor this
situation.”
The letter is attached for your information and will be published
on the Committee's webpages.
ENDS
Notes to editors:
- Previous correspondence from Thames Water on 1
December
- See the range of the
Committee's work on reforming the water sector and read the report,
published June 2025.
- The EFRA Committee's strategy, which will underpin its
work over the course of this Parliament, can be found here.
The strategy is informed by consultation and engagement with
stakeholders, including a survey launched to gather
stakeholders' views on priority areas for scrutiny, and
roundtable events it held with over 35 stakeholder
organisations. The themes emanating from this engagement are
detailed in this consultation
document and the areas which the Committee is focussing its
work oncan be viewed here.
