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Mason still top dog in bosses' pay scale

NEWS

AMEC chief Sir Peter Mason remains quoted contracting's best paid boss despite overseeing a collapse in profits last year.

Sir Peter picked up £895,000 in 2005, a drop of 5 per cent on his previous pay packet. Pre-tax profits at the group last year slumped 72 per cent to £25 million on turnover of £5 billion.

Sir Peter was paid a £140,000 bonus in 2005 although the firm's annual report and accounts make it clear this was not related to profit performance.

But the top bosses at Balfour Beatty and Carillion saw their salaries climb last year.

Balfour Beatty chief executive Ian Tyler saw his pay climb 30 per cent to £626,000 as profits at the group went up £21 million to £141 million.

Carillion boss John McDonough picked up an extra £100,000 to bring his wage up to £751,000 even though pre-tax profits fell 20 per cent to £52 million.

Amec's latest annual report also reveals that sacked executive director Carlos Riva received a £571,000 payoff last year.

The American was in charge of Amec's UK engineering and construction operations before he left last April. Amec said his compensation was thrashed out 'under a compromise agreement, reached through negotiations with Mr Riva and his legal advisors'.

In total, Mr Riva picked up £901,000 in 2005.