Tuesday, 16 January 2018

MP's Query Pay-Offs to Carillion Chiefs

BOSSES of Carillion who took pay-offs after leaving the firm are now being scrutinised in the wake of company's collapse.

For example former chief executive Richard Howson got £1.5m in pay, bonuses and pension payments in 2016, with Carillion having agreed to keep paying him a £660,000 salary and £28,000 in benefits until next October.

Also, ex-finance chief Zafar Khan, who left the company in September, will get £425,000 in salary for 12 months; while interim chief executive Keith Cochrane will be paid his £750,000 salary until July, despite leaving Carillion in February.

Yesterday the web-site City AM journalist Oliver Gillwrote:
'Bumper payouts to top former execs at collapsed contractor Carillion have put the reputation of Britain's top bosses on the line, the Institute of Directors has warned.'

Only last September leading shareholders  urged Carillion to claw back millions of pounds of bonuses paid to Howson and finance chief Richard Adam.  However, it now seems that Carillion changed its rules with regard to claw backs.

Meanwhile, payments to some workers for Carillion will lapse as from tomorrow.


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