Outlook: Relative values on Hanson's board
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 pay-off 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.
- 1 Scottish referendum: So how about the English now being given a chance to split from England?
- 4 Matthew Miller: American sentenced to hard labour in North Korea 'wanted to be Snowden II'
- 5 Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'naked pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
Isis in Syria: 60,000 Kurds flee terror in new exodus
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
4Chan naked photos leak: Celebrity Twitter reactions to the mass breach of privacy
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...