Link: MyTravel FD steps down
Claims in The Observer newspaper, state that Kazia Kanto, who quit as finance director last August after nine months in the job was paid £606,000.
This was the equivalent to 23 months of her base salary despite being on a 12-month contract.
Her predecessor David Jardine received £844,000 after less than three, equal to 27 months’ salary. He was on a 24-month contract.
MyTravel said the payments included entitlement to benefits. Criics claimed the payments were ‘rewards for failure’.
Last December MyTravel, formerly known as Airtours, posted a loss of £910.9m.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements