Summary
J SAINSBURY, the storm-tossed supermarket giant, is understood to have reluctantly accepted it will have to pay ousted former chairman and chief executive Sir Peter Davis a near-GBP 4 million payoff.
The official line from Sainsbury's yesterday was that "both parties are still in negotiations and we would not comment further". But it is believed lawyers have told the board that Davis has a watertight case in pressing for the conditions of a scheme agreed by the company's remuneration committee in 2003.See the full content of this document
Extract
Sainsbury's Resigned to Paying Ousted Chairman Gbp 4m
The payout is expected to ignite shareholder an...
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