Bentley v Davis

News from those denizens of integrity PM daily, the mouthpiece of the CIPD.

Has Phil Bentley done anything dishonest?
Is it just the fact Gas prices have rocketed?

I don't remember PM Daily or CIPD commenting on the level of remuneration that Scott Davis received and UPS are stealing from their customers.

Multimillion payoff for departing British Gas boss sparks anger

But it's politicians, not unions, protesting at the golden goodbye

British Gas boss Phil Bentley is set to leave the company with more than £10 million in shares, bonuses and pensions, according to reports.

The 53-year-old, who has been managing director of British Gas since 2007, and who took home a salary of £681,000, is said to be stepping down due to a disagreement with chief executive Sam Laidlaw about the future of the company.

Bentley’s financial interests include almost two million Centrica shares worth at least £6.5m, and a £3.6m pension pot. He is also expected to receive a year’s salary.

Surprisingly, British Gas’ biggest union doesn’t begrudge Bentley’s pay, and they have gone out of their way to praise his relationship with workers during his tenure.

Commenting on the managing director’s term at the head of the organisation, the GMB said “things are much better under the Phil Bentley regime than in years gone by”.

The union also raised concerns about the timing of the exit. Gary Smith, national secretary for energy and utilities at the GMB union, said: “I have spoken to a lot of people and there is a concern about the way Centrica is handling this, and that it is damaging morale in the middle of winter, which is the busiest time for the engineers.”

However, Labour’s energy spokesman, Tom Greatrex MP, reacted angrily to the terms of Bentley’s departure.

“British Gas customers, who have seen their bills soar on Phil Bentley’s watch, will be astonished at the level of his pay-off,” he said. “It will strike many as an obscene level of reward.”

A former Diageo and BP executive, Bentley joined British Gas’ parent company Centrica in 2000, as a finance director.

He presided over the firm during a turbulent time, overseeing huge energy price hikes for customers, while facing increasing pressure from the government and campaigners.