Million pound bonanza for States execs

Wednesday 29 April 2015

Five executives at States-owned companies took home more than £1.1m between them last year.

The senior directors at the States of Jersey Development Company and Jersey Electricity earned a combined £1.16 million in pay, pension contributions, bonuses and in one case, a pay-off for leaving the company.

The companies have had to publish their annual reports because the States of Jersey Development Company is completely owned by the public, and the States hold a majority share in Jersey Electricity.

The companies’ annual reports for 2014 also recorded that Jersey Electricity – which employs 333 staff – gave £7 million to the States over the course of the year in terms of a dividend on profits, tax and social security contributions.

The annual reports for Jersey Water (which is mostly owned by the States) and the wholly-publicly-owned JT will be released over the next couple of months.

The five big earners at the two companies were:

• JE Managing Director Chris Ambler - £289,548
• JE Finance Director Martin Magee – £221,161
• JE HR and Commercial Director Richard Plaster - £308,318 (includes “compensation for loss of office.")
• SOJDC Managing Director Lee Henry - £213,556
• SOJDC Finance Director Simon Neal - £130,840