Tax Payer Being Taken For A Ride By Bulb

Bulb’s chief executive and co-founder Hayden Wood, 38, was asked by MPs last month how much wealth had been created or “taken out of the business”, but he did not disclose the sale of any shares. However, The Sunday Times [revealed last month] in Apple News that Wood and his co-founder Amit Gudka, also 38, had each sold shares worth more than £4 million.

Wood continues to be paid a £250,000 salary by the state while advisers scramble to find a buyer to take on Bulb’s customers. This weekend marks six months since the energy supplier entered the special administration process funded by taxpayers.

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