THREE executives at Capita, the company set to run Mayor
Ken Livingstone's controversial congestion charging scheme
and to take over the BBC's TV licence fee collection, shared
a £7.5m pay and share windfall bonanza last year - the
latest evidence of a big boom in boardroom remuneration.
A further mountain of executive share payouts are set to
be triggered next year at the company, Whitehall's favourite
outsourcing business, which has grown fat on lucrative
contracts privatising public services.
Capita was formed 15 years ago from the £330,000
management buyout of the local council consultancy arm of
accountancy institute Cipfa. The growth into a FTSE 100
company with a market value of around £3bn has made its
founder and chairman Rod Aldridge Britain's 370th-richest
man according to recent reports. Aldridge, 54, is sitting on
a stake in the company worth £78 million with exercisable
share options and bonus shares, most of which mature next
year, worth up to £9.5 million.
Operations director Paddy Doyle, 51, cashed in bonus
shares and options worth £3.3 million on top of his £337,000
annual pay and bonus package. This was on top of the £3.1
million profit on options exercised in 2000.
Gordon Hurst, the 40-yearold finance director, cashed in
options bagging him £2.1 million in 2000. Last year options
and bonus shares netted him another £2.1 million on top of
his £274,000 pay package.
Chief executive Paul Pindar, 42, last year cashed in
options worth £1.2 million on top of his £408,000 package.
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