Scandalous Payoff For (Alleged) Criminal

[ChillDoubt]

http://www.bbc.co.uk/news/business-20705535

Nice little nest egg for when she gets out of chokey.....(if matters go as they should).

[bazwillrun]

Errrr...but she resigned !

[jake-the-peg]

Who says public sector staff are better off eh?

BBC's DG only got £450K!

[factor-fiction]

Resignations of top execs (and football managers) are often 'by negotiation'. It is usually done in a way that suits both parties, avoids the costs and hastle of possible legal challenges and helps avoids a public slanging match. It sometimes happens in business too at lower levels but we don't hear about it

[emmie]

the one thing about former DG of the BBC he was only in the job for 54 days, scandalous he got anything, licence to print money.
They negotiate good terms, pensions long before taking office i am sure, otherwise if they are dunces and don't, they could be got rid of far quicker.
I remember a CEO of a company i worked for got a 1 million quid payoff, this seemed a lot of money 15 years ago,

[factor-fiction]

Staff at this level will often negotiate a notice period of something like 12 months. When a situation is reached where it in the interests of both parties to agree an immediate break the employer will often agree to pay up the notice period, add something for any bonuses that may have been earned and possibly add a few sweeteners such as a pension top up. It's often quicker, cheaper and more convenient to settle up this way than to sack them (and still have to give notice pay) and probably get into a dispute.
It's annoying to those of us who work hard and avoid getting in these situations but wouldn't we do the same if we were in that position?

[emmie]

factor perhaps we would, however one would hope we might be a tad more competent in the jobs we do. Some of these are paid off because they haven't a clue, nor indeed should have been appointed in the first place.

[factor-fiction]

I agree, em10. An employer is unlikely to want to admit though that they made a big mistake in appointing someone so that's another reason why an agreed 'resignation' gives them a bit of a 'get out'.

[lady-janine]

what rate of tax will she be paying on this?

[youngmafbog]

Pay off to keep gob shut.

[anotheoldgit]

factor30 has said all that needs to be said about this, as much as the ordinary person thinks these sums are rather excessive in the normal run of things.

[ludwig]

When you get to a certain level within an organisation, you always get a massive payoff when you leave.

It doesn't seem to matter if you've left because of criminality, incompetence, or abject failure.

Strange, but that's how it seems to work.

[ludwig]

..which is why it always makes me laugh when I hear the phrase 'heads will roll', as it usually equates to incompetent people being allowed to take a luxurious early retirement with a massive golden farewell.

Being guillotined doesn't seem to bad a fate option for some.