Highest paid FD to become Man boss

Man Group has promoted finance director Peter Clarke to the position of chief
executive today after current incumbent Stanley Fink announced that he would be
stepping down from the position.

Clarke, who was also the FTSE 100 group’s deputy chief executive, will
takeover as the head of the fund the manager in April next year. Fink will stay
on at Man as non-executive chairman.

Clarke has long held the title of the highest-paid finance director in the
UK. According to Accountancy Age’s sister publication Financial
Clarke’s total pay for 2005 was £2.3m.  

Man Group has yet to appoint a replacement for Clarke, but current chairman
Harvey McGrath said he was pleased with the change to Man’s top management. 

‘The board considers that these appointments provide an excellent basis on
which to drive forward the continued growth of the Man Group, and reflect a
robust and considered approach to the critical task of executive management
succession,’ McGrath enthused.

Shares in Man Group were 1.32% lower at 430.25p following the news of Fink’s

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