Souter's pay rise pegged to 1%

Published on Friday 11 July 2008 19:51

STAGECOACH founder-boss Brian Souter's pay package rose just under 1 per cent last year while finance director Martin Griffiths's remuneration increased by over 40 per cent.

The Perth-based bus and rail group's annual report showed Souter's total remuneration at 1.05 million (1.04m last time).

This included a 3.5 per cent increase in his basic salary to 532,000 (514,000), but a slightly reduced bonus of 253,000.

Griffiths's total package rose 42 per cent to 821,000 (575,000). This included a 103,000 rise in basic salary to 360,000.

Souter and his sister Ann Gloag, a non-executive at Stagecoach, also benefited from a 31 per cent jump in the dividend to 5.4p. Their combined 26 per cent stake meant they shared a payout of 7.5m.