If this business does appoint an administrator then my reading of their contract terms (see announcement of 20 November 2014) is that the ex-Leightons CEO and CFO who WDS brought out of retirement will each get a minimum of 1 year's salary. Something like $1.1m and $750K respectively.
It's exactly these situations where the D&O insurance should come into play and hopefully provide shareholders with some recovery. The comfortable retirees should be the shareholders, not the management.
If this business does appoint an administrator then my reading...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
