Severn Trent has doubled the size of its long‑term incentive plan for newly appointed CEO James Jesic, raising the potential award to £3.1 million. The decision highlights ongoing tension between executive pay and public expectations for water utilities, potentially influencing regulatory attention and stakeholder trust. Severn Trent plc (board and remuneration committee), CEO James Jesic, predecessor Liv Garfield, shareholders, regulator Ofwat, and consumer advocacy groups. Shareholders may vote on the remuneration report at the next AGM; Ofwat or the UK government could launch a review of water company executive pay frameworks. The Guardian reports that Severn Trent has increased the long‑term incentive component of James Jesic’s remuneration package, allowing him to earn significantly more than his predecessor Liv Garfield. The move comes amid growing public and political scrutiny of water company executive compensation, especially as households face rising bills. While the board frames the increase as necessary to attract and retain leadership, critics argue it undermines efforts to link pay to service performance and affordability.
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