PracticePeople In PracticeSpence misses out on Dome bonus

Spence misses out on Dome bonus

Neil Spence, the former finance director at the Millennium Dome will not receive a bonus for his time at the troubled visitor attraction.

The Dome’s operators, the New Millennium Experience Company, confirmed Spence was not on the list of former directors who would receive productivity bonuses for work done at the doomed attraction.

Steve Brown, who was FD before Spence, was granted a bonus, but only Pounds 9,000 of the Pounds 55,000 maximum he was eligible to receive.

Spence resigned from his post in September last year after constant criticism of the Dome’s management.

During parliamentary select committee hearings in December accountant David James, the man parachuted in to try and save the Dome, revealed there were not nearly enough staff in the finance team.

However a report from the National Audit Office in November criticised ‘inadequate financial controls’ at the Dome as a major cause of its difficulties.

The NMEC declined to comment on Spence, but James said directors employed before January 2000 received bonuses ‘in recognition of the remarkable achievement of bringing about the opening of the Dome by its target date’.

In all Pounds 135,000 was awarded to directors in bonuses. Flamboyant chief executive Pierre Yves Gerbeau received Pounds 45,000.

One other former director, Ken Robinson, former operations directors, failed to receive a bonus.

This is a corrected version of the article, Spence misses out on Dome bonus, that was published on AccountancyAge.com on 28 March. In that article we said that New Millennium Experience Company executive chairman David James had told the Commons public accounts committee last year that Neil Spence, former finance director of the Millennium Dome, ‘was responsible for drawing up the [Millennium Dome’s] disastrous visitor forecasts’. We are happy to make clear that Mr James did not tell the committee this nor is it the case and we apologise to both Mr James and Mr Spence for the error.

Links

Dome chiefs set for PAC roasting

Analysis: Financial turmoil at the Dome

Dome Focus: Millennium Commission

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