MGN clears director who transferred pension

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The Independent Online
THE trustees of the Mirror Group Newspapers pension scheme will decide today on their response to an announcement by MGN that it has cleared its director of human resources, Robert Gregory, of any improper conduct or shortcomings following an internal inquiry.

Mr Gregory, who is paid more than pounds 100,000 a year, transferred his pension from the Maxwell Communication Corporation scheme to MGN's on 29 November last year.

This was two days before the board of MGN was told that there was a hole in the Maxwell pension schemes of more than pounds 400m.

The transfer was highlighted by the trustees of the MGN scheme in March, when they wrote to the board of MGN about the matter.

MGN started an inquiry, which came to light at the annual meeting 10 days ago.

In response to a question from a representative of the National Union of Journalists at the Daily Record in Scotland, Sir Robert Clark, MGN's chairman, said there was an internal inquiry into Mr Gregory and another senior MGN executive, Alan Stephens, company secretary.

Mr Stephens has been suspended by MGN, but Mr Gregory has remained at his post throughout the inquiry.

MGN would not elaborate on Mr Gregory's exoneration yesterday. 'An innocent man has been cleared, that's all,' Charles Wilson, MGN's editorial director, said.

However, trustees of the schemes said yesterday that they had not been told of the results of the internal inquiry and would be discussing them at the trustees' meeting, which is scheduled for today.

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