WH Smith justifies new CEO's payments

UK stationary group WH Smith has been criticised for awarding its new chief executive £1.2m (€1.7m) in one-off payments not linked to performance, following a poor Christmas performance for the company.

The new Chief Executive Kate Swann, who joined from Argos in November, will receive £1m (€1.4m) split equally in cash and shares if she stays in the post for up to two and a half years and a bonus of at least £220,000 (€318,000) this year.