Trinity Mirror boss Sly Bailey leaves with a £1m farewell
Sly Bailey has struck a £1m "compromise agreement" to smooth her exit from Trinity Mirror, publisher of the Daily Mirror and The People.
She will pick up the pay-off for being a "good leaver" – City jargon for going without a fuss – after a row with shareholders about her excessive pay package boiled over on Thursday night.
Ms Bailey has run Trinity for nearly a decade, gaining a reputation for slashing costs. But frustrated investors have seen the company's share price slide by 90 per cent while she has pocketed £14m in salary and bonuses.
She was the biggest victim of the wave of shareholder unrest during recent weeks which has seen huge protest votes against boardroom earnings.
Her payoff is bound to create a further ruccus at its shareholder meeting next Thursday.
Aviva yesterday suffered a near-60 per cent protest vote over executive pay packages including chief executive Andrew Moss's £3m.
The current wave of protest is unprecedented and set to spread.
Pensions adviser Pirc last night said shareholders should vote against the pay packages at the metals trading giant Glencore, where potential bonuses are seven times salary. It also opposes the re-election of the entire board at the materials maker Cookson and condemned a bonus to the chief executive.
- 1 Unseen Charlie and the Chocolate Factory chapter deemed 'too subversive' released
- 2 Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
- 3 Joan Rivers: 'Palestinians deserve to be dead'
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Israel-Gaza crisis: YouTube footage shows scale of destruction after 50 days of shelling
Keira Knightley topless: Conservative actress does own take on #Freethenipple campaign for Interview Magazine
iPhone 6 'hidden code' could indicate sharper screens or bigger phones
Joan Rivers: 'Palestinians deserve to be dead'
Ebola virus: It's ripped through towns – now the deadliest ever outbreak of the virus is heading for Africa's teeming cities
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
£40000 - £70000 per annum + Bonus+Benefits+Package: Harrington Starr: C# .NET ...
£40000 - £70000 per annum + benefits+bonus+package: Harrington Starr: Data Ana...
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...