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Article: Fury as Green smashes golden goodbye record; Ousted Carlton boss with no contract gets [pounds sterling]15m payoff.

Article from:
The Evening Standard (London, England)
Article date:
March 3, 2004
Copyright

Byline: NICK GOODWAY

MICHAEL Green was paid a staggering [pounds sterling]15 million by Carlton Communications after a shareholder revolt that forced him to stand down as chairman-elect of ITV.

Investors reacted with fury as the figure was revealed today. The payoff, a mix of shares and cash, is far higher than the [pounds sterling]1.8 million he was reported to be due in redundancy and pension top-ups just ahead of crucial votes by Carlton and Granada shareholders to approve the [pounds sterling]5.5 billion merger, completed last month. That has been boosted by a [pounds sterling]13.2 million bonus.

Green, 56, who never had a formal contract ...

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