Pratt walks free with 2m from Bulmers

[cd27]

Reward for failure?

Maurice pulls a €2m exit coup - Shane Ross, Columnists - Independent.ie

"The drinks company with the disastrous record has been rewarding failures. On Monday, the annual report came out. One of the biggest items in C&C's accounts puts our departing bankers to shame. Most bankers taking an early bath are -- rightly -- exiting without golden handshakes.

But nothing is too good for Maurice Pratt, boss of C&C until his exit last October. Maurice was given €1.73m as "compensation for loss of office", €197,000 as a "special pensions payment" and other rewards that totalled a package of over €2.5m for his annus horribilis. Back in 2008, he had to be satisfied with a mere €1m; but in 2009, in recognition of Maurice's unique contribution to destroying shareholder value in C&C, he was awarded a couple of million. At the year end, the shares stood at 94¢. At their height, they were €13.90. Maurice had to go."


Capitalism, Irish style!

[toughbutfair]

Reward for failure?

Maurice pulls a €2m exit coup - Shane Ross, Columnists - Independent.ie

"The drinks company with the disastrous record has been rewarding failures. On Monday, the annual report came out. One of the biggest items in C&C's accounts puts our departing bankers to shame. Most bankers taking an early bath are -- rightly -- exiting without golden handshakes.

But nothing is too good for Maurice Pratt, boss of C&C until his exit last October. Maurice was given €1.73m as "compensation for loss of office", €197,000 as a "special pensions payment" and other rewards that totalled a package of over €2.5m for his annus horribilis. Back in 2008, he had to be satisfied with a mere €1m; but in 2009, in recognition of Maurice's unique contribution to destroying shareholder value in C&C, he was awarded a couple of million. At the year end, the shares stood at 94¢. At their height, they were €13.90. Maurice had to go."


Capitalism, Irish style!

They have more than doubled since he left - shows how bad he was. There should be a law against this type of thing.

[mccafferty cat]

I wonder, when will Senator Ross be devoting some column inches to the various Directors who have left IN&M with golden parachutes over the last couple of years?

Let alone write a single word on the mismanagement and gross incompetence which has cost shareholders millions?

[sandar]

this sort of thing destroys shareholder value and damages the economy, but its not illegal and should never be

[cd27]

obviously

[Baron von Biffo]

I wonder, when will Senator Ross be devoting some column inches to the various Directors who have left IN&M with golden parachutes over the last couple of years?

Let alone write a single word on the mismanagement and gross incompetence which has cost shareholders millions?

When the devil buys skis.

[cd27]

Everyone knows what's happened to the Indo and they're paying for it

[Bobert]

Don't I know it...

"Bog roll for sale..."