Transport for London's Annual Report and Statement of Accounts was published yesterday. It contains many pages of facts including, on page 169, the following:
The Commissioner's salary for 2008/09 was £348,444. He received a performance award of £146,440 during the year in respect of performance for the year ended 31 March 2008. For the year ended 31 March 2009, he would have been entitled to a payment of £136,590 but has elected to receive only £61,466 in recognition of the current economic circumstances.
TfL reminds me that Hendy's decision not to accept his full bonus entitlement is in addition to his recommending in April that the salaries of all senior staff be frozen and the "overall level of performance award" be reduced by ten percent. It also supplies a quote from Hendy:
It is only right that in these tough economic times, the pay of senior TfL managers is frozen and their performance awards reduced. I have also chosen to give up more than half of the performance award available to me.
You read it here first - unless, of course, you'd already read it here (pdf).
Update, 13:54 More on this from Katharine Barney at the Standard.
