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Executive pay-offs still inflating

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In spite of the negative coverage given to large executive pay-offs in recent years, they continue to rise. A survey in Labour Research shows that at least 14 executives left with pay-offs of over a million pounds in the last accounting year. 75 exiting directors got over £100,000, and fourteen of the companies responsible made payments in that bracket to more than one person.

The highest payment was to Klaus Esser, in charge of Mannesmann prior to the takeover by Vodafone, although this is currently under investigation.

A list of all directors receiving golden handshakes of £100,000 or more and further details are published in the January 2002 issue of Labour Research.

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