FirstGroup chief executive Tim O’Toole enjoyed a small rise in his total pay package to £1.26million in the year to March 31, the Aberdeen-based transport giant’s latest annual report has revealed.
US-based Mr O’Toole earned just over £1.24million the year before.
His basic salary was unchanged at £846,000.
Mr O’Toole’s taxable benefits during 2016/17 included a £12,000 car allowance, £23,000 for US medical insurance and a £9,000 reimbursement for advisory fees, which were mainly related to taxation in both the UK and US.
FirstGroup said that in light of a fatal incident involving ones of its trams in Croydon last year and the ongoing investigations, “it would not be appropriate” to award a cash or deferred shares bonus.
Results earlier this month showed underlying pre-tax profits rose by 23% to £207million during the year to March 31, thanks to a stronger performance in the group’s North American First Student school bus operation.
