Ex-Morrisons FD was given half a million pounds
Martin Ackroyd, who was forced to resign last year after a string of profit warnings at the supermarket chain, still received a massive payout
Martin Ackroyd, the former finance director of Wm Morrison, received a
payment of £505,796 plus 12 months’ pension funding when he left the company,
its full-year report has revealed.
Chief executive Bob Stott is also in line for a £1.42m payoff when he steps
down later this year, and he will continue to work for the company as a
Despite a tough year for Wm Morrison, Stott’s payment is worth twice his
current salary, profit share and benefits. A source quoted in The Times
said his payout reflected his achievements: ‘Bob has had over 20 years’ service
and oversaw the UK’s largest ever store conversion programme’.
The group has been looking for a new CEO since October.