Huge bonus for Thames Water boss

Thames Water logo. Credit: PA

The boss of Thames Water has been awarded a bonus nearly equal to his annual salary after a year in which a hosepipe ban was announced and customer satisfaction "deteriorated".

Chief executive Martin Baggs was awarded an annual bonus of £418,359 for the year to March 31 on top of his £425,000 salary, according to the company's annual report.

Mr Baggs, who was appointed in March 2010, is also in line to receive hundreds of thousands of pounds worth of shares in the next four years under a long-term incentive plan.