NI Electricity pay defended

Salaries paid to executive directors of Northern Ireland Electricity were strongly defended at the group's annual general meeting…

Salaries paid to executive directors of Northern Ireland Electricity were strongly defended at the group's annual general meeting in Belfast yesterday.

A number of queries were raised by shareholders about the remuneration of directors, particularly the four executive directors. The chief executive's remuneration level this year - including salary, benefits in kind, performance payments and pension contributions - is detailed in the annual report as totalling £393,000.

But Prof Mary McAleese, a non executive director who is chairman of the company's remuneration committee, told the meeting that, on executive "remuneration policy, the company operates within a framework which attempts to ensure that the individuals who are "the brains, or thinking engine"

of the company were fairly rewarded.