More NewsHuge payout for departing Standard Life FD

Huge payout for departing Standard Life FD

Alison Reed set for £900,000 exit windfall

Alison Reed, the high-profile finance director of mutual insurer Standard
Life set to leave the company in December, could pocket as much as £900,000 for
less than two year’s at the company.

She joined the insurer in April 2005 and according to The Times, has
a 12-month notice period, which would entitle her to a payoff equivalent to her
annual salary of £454,500. She is also due benefits worth £58,000 and an annual
bonus of £220,000

Reed is expected to depart the company as part of a series of top-level
management changes following its stock market flotation in September.

Besides Reed, the company has already said that its chairman, Sir Brian
Stewart, will leave as soon as Standard Life is ‘fully established as a publicly
listed company’.

Reed joined Standard Life after spending 20-years at retailer Marks &
Spencers.

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