David Prosser: The chief executive who set an example
Outlook It is easy enough to throw mud at fat-cat executives who desert a sinking ship with generouspay-offs – and goodness knows there have been enough of them over the past couple of years – so we should be gracious on the odd occasion when someone does the right thing. Step forward Jamie Buchan, chief executive of Southern Cross.
Mr Buchan has his critics, who complain that he should have been savvier in his negotiations with the nursing home operator's landlords, or improved the quality of its services sufficiently to drive up its occupancy rates to levels that would have eased Southern Cross's financial woes. What one can't do, however, is blame him for the disastrous sale-and-leaseback business model, which Mr Buchan inherited.
It is clear that Mr Buchan could have left Southern Cross back in June, taking a generous severance payment and avoiding a depressing summer organising an orderly wind-up of the company. Good for him for not doing so – it is an example that plenty of other executives at the top of British business ought to follow.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband less influential than One Direction's Louis Tomlinson in official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
Bubonic plague-carrying fleas found on New York City rats
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...