Tram boss loses bonus

THE boss of First Group lost his £723,415 bonus after the Croydon tram crash left seven people dead and 58 injured.

The bus and rail operator, which runs the Croydon Tramlink that crashed in November, said it would not be appropriate for Tim O’Toole to get the cash and shares he was due.

O’Toole, 61, who got a £162,000 bonus the year before, therefore received £1.3m for the year to March 31, up slightly from the £1.2m he pocketed the year before, mainly because of a payout under an incentive scheme.

However First Group said the boss will be granted deferred shares, subject to an additional condition relating to the outcome of the investigations.

O’Toole apologised for the tragedy this month when the firm revealed its full-year profits had jumped by more than a third to £152.6m, while sales increased 8.3pc to £5.7bn.