Outlook: Golden goodbye
Saturday 29 May 1999
Earlier this week Tony Hales quit Allied Domecq with a pay-off in the region of pounds 1m after a long period of underperformance capped by the sale of Allied's pub estate to Whitbread for a price that was hardly generous.
Now Keith Edelman is being shown the door at Storehouse after an equally bleak period of underperformance. In the last year the shares have lagged the market by nearly 60 per cent.
The most humiliating epitaph for any chief executive is to see the share price soar, as Storehouse's did yesterday, as he makes his exit. In Mr Edelman's case, the hurt will be soothed by a pounds 600,000 pay-off.
All this makes Nick Hodges at London International look like a saint. His pounds 1.1m pay-off following the takeover of LIG by Seton Scholl is almost as large as Mr Hodges himself. But at least he left his shareholders with a company that outperformed the market by a quarter since 1994.
- 1 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 2 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 3 Lego breaks out of the toy box and heads for the gallery
- 4 Julian Assange and Edward Snowden join piracy mogul Kim Dotcom’s political campaign in New Zealand
- 5 Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Jihadi John': MI5 may have identified Isis militant who killed David Haines but options limited
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: Police will be on high alert on Friday whatever the result
David Haines beheading: David Cameron says Britain will hunt down Isis 'monsters' shown in video murdering aid worker
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
Salmond accused of laughing off national debt with ‘what are they going to do: invade?’ joke
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