North takes Bass job after Burton handshake

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The Independent Online
RICHARD NORTH, who was paid more than pounds 300,000 after he resigned as finance director of Burton Group, has been appointed finance director of Bass, the brewer.

The appointment is likely to anger Burton shareholders, who were concerned that Mr North was being given a golden handshake despite resigning on amicable terms. He is to be paid a year's salary, about pounds 250,000, and a pounds 60,000 fee for acting as consultant for a year.

Sir John Hoskyns, Burton's chairman, said the payment was intended as a reward for Mr North's contribution to the group. He had decided to leave following completion of the group's restructuring, while Burton wanted to appoint someone with a retail background. Mr North's successor, Andrew Higginson, was finance director of Laura Ashley.

Bass would not comment on Mr North's package, but its most recent annual report showed that executive directors were paid between pounds 220,000 and pounds 586,000 while Ian Prosser, chairman and chief executive, earned pounds 615,000.

Mr North replaces Philip Bowman, who takes over as chief executive at the beginning of August. Mr North will start at the beginning of September.

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