This sort of thing, from the FT:
Margaret Ewing, the former finance director of UK airports group BAA, has attacked institutional investors for voting down more generous remuneration packages for directors of quoted companies and for failing to back them in acquisitions
What evidence does she give? She said:
some company directors had told her that they could not persuade the board, or even themselves, to take action that could double the value of their business "because there is nothing in it for us in doing so".
How much did Margaret Ewing make in her last year as FD of BAA before joining Deloittes? £681,000. Plus £37,000 from external appointments. And that, apparently is not enough to motivate her to increase the worth of a company. No wonder BAA which ran Britain's major airports was sold at what seems likely to have been an undervalue.
This is not Enterprise. It is not entrepreneurial. It is not good management. It is greed. That's why people stand up to it Margaret Ewing. And thank goodness they do.
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I’ve never met or seen Margaret Ewing, so I don’t know what she looks like.
However, in my view naked greed in a person makes them as unattractive as it’s possible to get.
Pigs eating is a messy affair. When it’s humans with their noses in the trough it’s revolting.
😈
I HAVE met Margaret Ewing and your comments are so blase, it’s always funny when people pass judgement on those they’ve never met. It’s good for your credibility.
Margaret Ewing was FD of the year for goodness sake, most agree the price obtained by BAA for the takeover was a real treat…after all….what’s it worth now with press headlines full of ‘HEATHROW IS RUBBISH’. She did very well.
Mark
Respectfully, what is your argument?
It appears to me she is saying that her pay was not enough to make her work to the best of her ability.
You’re asking me to respect her for that?
I don’t.
Richard
Richard, thanks for responding.
The salary they quoted is bunkum, BAA paid her £264,429 which included her senior managers bonus (base is £204,429). The quoted number included her income from the hostile buy-out by Ferrovial. I’d bet my mortgage she earns more today that she got in BAA. 😛
Mark
In my experience people who have lost an argument nit-pick
Richard