BusinessCompany NewsRegus finance director works for free

Regus finance director works for free

The finance director and chief executive of troubled office provider Regus are working for free as part of drastic measures to keep the company afloat.

FD Stephen Stamp and CEO Mark Dixon waived their salaries at the same time as announcing 800 job cuts and losses of nearly Pounds 100m during the last three months.

Stamp’s annual salary was Pounds 160,000, compared to Dixon’s Pounds 400,000 package, but both would have been buoyed by the news that Regus’ shares leapt 87% to 36p on Friday on the back of the announcement.

Regus, which provides offices for the ICAEW as part of its new regional network, has mothballed 11% of its capacity and halted its centres opening programme to stem its losses.

Links

New FD installed at Regus Business Centres

Don’t force out our best executives

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor