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 I was a Woman Against Feminism too
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 Students offered grants if they tweet pro-Israeli propaganda
- 4 The Tory donor whose firm is one of Britain’s biggest tax avoiders - with HMRC's blessing
- 5 John Barrowman praised for Commonwealth Games opening ceremony gay kiss
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Peaches Geldof inquest: Tragic final days of mother-of-two's life reveal she lied to husband about failed heroin tests
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
iJobs Money & Business
£18000 - £20000 per annum + OTE £25K: SThree: SThree Group has been well estab...
competitive: Progressive Recruitment: This really is a fantastic chance to joi...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...