BusinessCompany NewsFewer executives posts closed in 2002

Fewer executives posts closed in 2002

A survey of listed companies has found the number of chairman, chief executive and finance director posts closed this year has fallen by almost a third.

Link: Fat cat executives get fatter

In 2002 just 205 senior executives resigned, retired or in a few cases died, and were not replaced, compared to last year, when 298 posts were culled, according to a study by Manifest, the proxy voting agency.

In the FTSE 100, four finance directors resigned this year, compared with twelve in 2001.

The resignations were a combination of retirements and takeovers, the occasional death, or simply shifting posts, while shareholder pressure also claimed a number of posts.

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