Accountant in line for £1.75m bonus payment
Agreement made after hygiene company acquaires pet care provider
An accountant-turned managing director stands to reap £1.75m from a takeover
of a leading pet care provider.
Paul Foden, managing director of ByoFresh, who was once a chartered
accountant with Arthur Andersen, will receive the bonus as part of a take over
agreement.
ByoFresh has been acquired by anti-microbial hygiene company ByoTrol.
In a statement, ByoTrol said it had “entered into a service contract with Mr
Foden which will permit him, subject to certain profit and revenue targets, to
earn bonuses of up to a maximum, in aggregate, £1.75m, which will only be
achieved if ByoFresh achieves a significant uplift in performance both against
historic measures and the Board’s forecasts in the three years following
completion.
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