EUROPEANCHAPTER

Former HR director Jane Davies claimed that Post Office CEO Nick Read's persistent demands for a pay rise and threats to resign consumed her work, with emails from Read describing his bonus situation as intolerable. Despite earning £2.28m since 2020, including a £455,000 bonus for 2021/22, Read's demands were a distraction from addressing compensation for victims of the Horizon scandal. Experts suggest formalized policies, including involvement from HR, trade unions, and remuneration committees, to mitigate conflicts arising from executive pay negotiations.

Boeing's CEO Dave Calhoun and former Executive Vice President Stan Deal, despite announcing their departures amid scrutiny over manufacturing flaws, stand to collect a combined $45 million in compensation. They won't likely face internal clawback policies since they weren't fired due to quality management issues. However, shareholders are expected to approve a proposal tying executive compensation to safety improvements, as Boeing faces intense scrutiny following incidents like a door panel detaching from a 737 Max 9 jet. The company's compensation structure is being retooled, and leadership changes are expected to address concerns and improve performance.

GTT announces the launch of its international employee shareholding plan, offering nearly 720 employees the opportunity to become shareholders. The plan, available in several countries, allows employees to subscribe to GTT shares at a discounted price of 111.20 euros, subject to a five-year lock-up period. Shares will be subscribed through direct shareholding or employee shareholding funds, with the subscription period running from April 25 to May 14, 2024, and settlement-delivery scheduled for June 18, 2024.