Outlook: Leaving bad blood with investors
Thursday 19 March 1998
This was the bit of Hanson which father James and son Robert decided to make their home after the conglomerate split into four. Both of them left at Christmas. Lord Hanson simply retired while his son Robert resigned "voluntarily" so as to run his father's privately owned transport business in the North East.
There's nothing wrong as such with successful industrialists wanting their sons to follow in their footsteps, though as a point of principle institutional investors invariable object to the creation of business dynasties and it was always a bit of a mystery as to what the young Robert really did round there.
But what could justify a payoff of nearly pounds 500,000? After all, he was supposed to have gone "voluntarily" and he would never have been there at all but for his father. The same goes for the present Hanson chairman, Christopher Collins, who himself managed to hitch his wagon to the Hanson caravan some years back by marrying the good Lord's niece.
When asked last November about Robert's impending departure, Mr Collins said the young lad could expect some compensation since he had once been corporate development director of a pounds 10bn conglomerate but that role had been reduced by the demerger to the same job in "a focused building materials company". Poor mite. Nobody thought he meant half a mil, though. We can only assume that to justify such a sum he must have made some great awe inspiring contribution to corporate development. But then again, perhaps it was just leaving.
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
The battle for control of Stieg Larsson's £30m legacy
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
David Cameron takes his biggest gamble yet as he gets tough on Europe over immigration
Two PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations and public dissection of her marriage to Charles Saatchi
Burglar steals video tapes of child abuse, hands them into police
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...