BusinessCompany NewsMayo settles pension claim lawsuit

Mayo settles pension claim lawsuit

John Mayo, the former finance director of Marconi, has accepted an estimated £800,000 settlement from the telecoms equipment company over his pension fund.

The payment is understood to be half of the original £1.6m that Mayo sought in his claim put in last November the day after the Accountancy Age Awards for Excellence , in which he was a judge.

The settlement is a top-up payment in addition to the £1m severance pay which Mayo took in full when he left Marconi in July 2001 after a massive profits warning which led to the company’s financial crisis.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

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

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor