Moneysupermarket float to net chairman £500k

Former Railtrack chief and Moneysupermarket.com chairman Gerald Corbett is today reportedly set to scoop a windfall of up to £500,000 (€735,000) following the flotation of the price comparison website.

Mr Corbett, who was brought in as non-executive chairman of Moneysupermarket.com ahead of its float later this month, will collect £100,000 in fees immediately after the stock market debut followed by up to £400,000 (€590,000) in shares in 2010, according to the Daily Telegraph.

He has also agreed to invest £200,000 (€294,600) in Moneysupermarket.com shares.

Moneysupermarket.com announced earlier this week a proposed price range for its shares of between 170p and 210p – lower than initial market expectations.

The price values the website at between £845.9m (€1.2bn) and £1.04 bn (€1.5bn).