The boss of bailed-out energy supplier Bulb is still being paid the same £250,000 salary that he was collecting before the business went into administration. Hayden Wood, who set up the company, was asked by administrators to stay on in his role as chief executive after it failed in November, and continues to receive nearly £21,000 a month.
Bulb was bailed out by the Government last year and ministers set aside £1.7 billion to cover the normal running of the firm until a buyer could be found. Mr Wood refused to say whether that is imminent when he was quizzed by MPs on the future of the company.
Speaking to the Business, Energy and Industrial Strategy Committee, he said: "I don't think it responsible for me to share details of an active sales process that is ongoing right now in a public forum." Mr Wood said he is still receiving his salary, but has never been able to get a bonus from Bulb.
