Ex-National Grid chief pocketed £3 million for four months’ work in which he attended just three board meetings
Steve Holliday continued to be paid for his work at the National Grid up to July despite quitting in March
A FORMER boss of one of the energy firms making “excessive profits” was paid £3.3million for just four months’ work.
Steve Holliday, 61, quit as CEO of National Grid in March 2016 but helped on the board until July.
He was paid £594,000 in salary, pension and benefits for the four months from April to July, plus bonuses worth £260,000.
He then got another £2.5million in July this year for hitting targets set in 2013 and 2014.
Records show there were only three board meetings in the four months, all of which he attended.
Holliday’s pay for his last full year in the job to March 2016 was £5.2million.
He is also understood to have started drawing his pension, worth £11,000 a week, in October last year.
Edward Molyneux, of collective switch site The Big Deal, said: “His bumper pay-off is a slap in the face for families as winter sets in and thermostats turn up.
“But Mr Holliday probably won’t mind as he may well be spending his six figure pension holidaying in warmer climes.”
National Grid said: “Steve Holliday stepped down as CEO in March 2016 but remained executive director until July to complete a successful transition.
“As a result he got prorated compensation for this period.”
Yesterday the Sun revealed our new People Power energy tariff. We teamed up with The Big Deal and negotiated a deal with Green Network Energy to save you £237, with prices fixed for a year.
You can then decide if you want to take the deal – although there is no obligation at all.
If you do, you can do so there and then, for free and within a couple of minutes.
No need to do anything else, it is handled for you.
You can also text 88802 (standard charges apply) to get all the info.