Reed pockets M&S payoff
Alison Reed, former FD of Marks & Spencer, earned almost as much as current FD Ian Dyson during the last financial year
Now the group FD of Standard Life, Reed left M&S in April 2005 when
Stuart Rose took charge at the high street retailer.
Reed did not go cheaply though, walking off with a package that surpassed her
2005 earnings. Dyson earned £685,000 while Reed pocketed £657,000 in 2005/2006.
Reed’s pay-off included a £622,000 termination payment, made up of a £130,000
bonus and salary and benefits of £492,000.
Teather & Greenwood analyst Sanjay Vidyarthi said that termination
payments were not a significant factor when assessing company performance.