Key facts
- Thames Water paid its finance chief, Steve Buck, a £1 million signing fee.
- The payment was funded by an emergency debt package.
- The company is currently facing significant financial scrutiny and takeover talks.
- The payout has drawn criticism amid the company's financial difficulties.
Thames Water, the UK's largest water company, is facing renewed criticism following the revelation that it paid its finance chief, Steve Buck, a £1 million signing fee. This payment was reportedly drawn from an emergency debt package secured by the company. The disclosure comes at a time when Thames Water is already under intense financial scrutiny and is engaged in takeover talks. The company's substantial debt and ongoing financial challenges have amplified the backlash against the substantial payout to its finance executive.