National board set to net pounds 5m windfall
How they measure up
Thursday 18 April 1996
The windfall would come on top of pay-offs for executive directors of up to pounds 3.12m if the US group decided to clear out the entire board, and profits on existing shareholdings valued at pounds 1.24m.
The biggest winner from the payments, based on figures dating from March 1995, is likely to be Granville Camsey, the managing director of group technology, who stands to gain a pounds 1.14m profit from options and a pay- off of up to pounds 384,000.
John Baker, who moved up from chief executive to chairman a year ago, would make pounds 883,000 from options.
He switched to a fixed-term contract worth pounds 180,000 a year, which expires in December 1997, which means that he could receive a payment of somewhat over pounds 300,000 to buy out the balance of the term.
Colin Webster, managing director of the UK business, would be another big winner. His option profits were valued at pounds 777,000 by last night's share price and his pounds 207,000 salary in 1994 could potentially net him a pay-off of more than pounds 400,000. Meanwhile, his shareholding last year would be worth nearly pounds 622,000.
By contrast, Keith Henry, National Power's new chief executive who joined from the US group Brown & Root last year, would be in line for a pay-off worth twice his pounds 280,000 annual salary or pounds 560,000. He was not offered any share options when he joined, but he used a controversial pounds 100,000 "golden hello" given by the company to buy pounds 60,000 of shares.
National Power Southern Company
Market capitalisation pounds 7.5bn $15.3bn
Turnover pounds 3.95bn $9.1bn
Net profits pounds 705m $1.1bn
Employees 5,500 7,500
Status: Britain's biggest Biggest quoted US
electricity generator electricity utility
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
- 3 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 4 Why I'm on the brink of burning my Israeli passport
- 5 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
Israel-Gaza crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
There’s a nasty smell in the political air – and it’s coming from the Tories
iJobs Money & Business
£50000 - £70000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£300 - £350 per day + competitive: Orgtel: My client, a leading bank, is curre...
£28000 - £32000 per annum + pension, 25 days holiday: Ashdown Group: A highly ...
Negotiable: Randstad Education Birmingham: Randstad Education are seeking a Fi...