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Article: A lord's [pounds sterling]250,000 U-turn and a blow for the Eye; Lord Hollick's decision to turn down his bonus on leaving United Business Media might smack of a generous spirit. But the South Bank chairman's threats to evict the Millennium Wheel tell a different story.
- Article from:
- The Evening Standard (London, England)
- Article date:
- May 18, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KEITH DOVKANTS
SOMEWHERE, high over the Atlantic, Lord Hollick experienced a moment of conversion. He was flying to the United States after one of the most disturbing episodes of his long business career and he could not put the upsetting events out of his mind.
He had just bowed out of his company, United Business Media, after 31 years at the helm. He had been expecting shareholders to give him a standing ovation; instead, they jeered and derided him for planning to pocket a [pounds sterling]250,000 bonus, merely for handing over to his successor. One fund manager characterised acceptance of the payment thus: "It is," he said, "taking the ...