Ex-Mitie boss Ruby McGregor-Smith could lose £2m bonus

Troubled outsourcer Mitie may attempt to recoup nearly £2 million in bonuses paid to former boss Ruby McGregor-Smith after restating accounts for last year.

McGregor-Smith quit the company in October after a profit warning and before the company restated accounts for last year after an accounting issue.

She received £2.5 million in total for 2016, almost £2 million of which was in bonuses and share options.

Mitie said in its annual report it will “determine what rights may be available to the company to recover the bonus and other awards” made to McGregor-Smith and former finance chief Suzanne Baxter, who stepped down in January.

McGregor’s share options worth around £3.5 million were also scrapped by the remuneration committee in the wake of the disastrous financial performance and she received no bonus last year, having pocketed £660,000 the year before.

After stepping down, the company issued two more profit warnings in quick succession, causing the shares to tank.