Nuffield Health boss paid £840,000 after hitting targets

19 Jul 2019 News

The chief executive of Nuffield Health, the largest trading charity in the UK, earned more than £840,000 last year, over £300,000 more than the previous year, according to recently filed documents.

Steve Gray earned between £840,000 and £850,000 in the year to December 2018, according to the charity’s annual report for that year, up from between £510,000 and £520,000 in 2017.

The dramatic increase is due to Nuffield Health awarding Gray a £300,000 bonus last year for high performance.

A spokesperson for the charity said: “Steve Gray’s total remuneration includes a bonus if he meets rigorously-defined business targets, a standard practice across organisations of our size and complexity.

“In 2017 the charity did not meet the criteria for the chief executive to earn a bonus; the significant improvement in business performance and achievement of strategic objectives in 2018 means that Steve qualified for a bonus.

“This accounts for the increase in his remuneration and reflects the progress the charity made last year under his leadership.”

Meanwhile, Nuffield Health’s overall staff costs increased from £343.5m to £363.3m in the year.

Income reaches £946m

Nuffield Health has grown its overall annual income by 4 per cent to £946.2m, according to the report.

This growth is lower than the previous year’s 8.3 per cent rise, but nevertheless continues the positive trend that has seen its income grow by more than 50 per cent since the start of the decade.

The rise in 2018 is due to an increase in income from the charity’s hospital and wellbeing services.

Meanwhile, the charity’s total expenditure also grew, albeit by a lesser degree, to £953.7m.

Brexit preparations

Writing in a foreword to the accounts, the charity’s chair Russell Hardy said Nuffield Health had been “planning and preparing extensively” for all possible Brexit outcomes, with a particular focus on the charity’s EU workforce.

He said: “We took part in the trial of the government’s EU Settlement Scheme earlier this year, which gave our employees the chance to seek early confirmation of their future settlement status. 

“Similarly, we will be offering support to colleagues who may need to apply for mutual recognition of professional qualifications, ensuring any gained outside the UK continue to be recognised here.

“We have also been working with key suppliers on mitigation planning, particularly in respect of availability of medicines.

“Our legal team has undertaken significant preparation on post-Brexit privacy and data protection matters; and our finance team stands ready to ensure our financial sustainability in the face of different economic scenarios.”

Steve Gray's details will be included in Charity Finance magazine's upcoming Charity Chief Executives Survey 2019, published in its September issue. Find out more about subscribing here.

Civil Society Media's Charity Finance Week takes place in October and this year the theme is Accounts and Accountability. Find out more about the events taking place. 

 

 

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