Capita trio share £7.5m windfall

THREE executives at Capita, the company set to run Mayor Ken Livingstone's controversial congestion charging scheme and to take over the BBC's TV licence fee collection, shared a £7.5m pay and share windfall bonanza last year - the latest evidence of a big boom in boardroom remuneration.

A further mountain of executive share payouts are set to be triggered next year at the company, Whitehall's favourite outsourcing business, which has grown fat on lucrative contracts privatising public services.

Capita was formed 15 years ago from the £330,000 management buyout of the local council consultancy arm of accountancy institute Cipfa. The growth into a FTSE 100 company with a market value of around £3bn has made its founder and chairman Rod Aldridge Britain's 370th-richest man according to recent reports. Aldridge, 54, is sitting on a stake in the company worth £78 million with exercisable share options and bonus shares, most of which mature next year, worth up to £9.5 million.

Operations director Paddy Doyle, 51, cashed in bonus shares and options worth £3.3 million on top of his £337,000 annual pay and bonus package. This was on top of the £3.1 million profit on options exercised in 2000.

Gordon Hurst, the 40-yearold finance director, cashed in options bagging him £2.1 million in 2000. Last year options and bonus shares netted him another £2.1 million on top of his £274,000 pay package.

Chief executive Paul Pindar, 42, last year cashed in options worth £1.2 million on top of his £408,000 package.