Ex-Rock chief's pay-off 'reward for failure'

A £760,000 (€954,721) pay-off for the former chief of nationalised bank Northern Rock was today branded a “reward for failure”.

Mon, 31 Mar, 2008 - 16:07

A £760,000 (€954,721) pay-off for the former chief of nationalised bank Northern Rock was today branded a “reward for failure”.

Adam Applegarth, who stepped down as chief executive in December, will receive the sum despite leading the lender into a taxpayer-funded bailout.

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CourtsBusinessHeathrowPlace: North DurhamPlace: Northern RockPerson: Adam ApplegarthPerson: ApplegarthPerson: Vince CablePerson: LabourPerson: Kevan JonesPerson: Ron SandlerPerson: SandlerOrganisation: Northern RockOrganisation: Liberal Democrats’Organisation: Treasury
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