Wednesday, 23 November 2011

It all Stacks up

Bob Stack was Head of Human Resources at former UK chocolate company Cadbury. In 2008 he was paid a salary of £1.8m - that's one million eight hundred thousand pounds - for one year's work. 

To this he added £2m from taking up share options when he retired at the end of the year. 

Then you can factor in his pension pot of £8m, after 18 years in the company, which is bringing him in some £700,000 - yes, seven hundred thousand pounds - per year in pension payments. That's £13,461.54 per week.

It all Stacks up, doesn't it?

And what does a Head of Human Resources do, exactly, apart from sack people? Anyone sacked by Stack, and now qualifying for a State Pension, will be getting £5311.80. Per year.

Didn't Cadbury use to be a Quaker company? With principles??

And if you're wondering how he's getting on now he's retired, Bob Stack is now making good use of his expertise and experience in negotiating salary packages - he's Chairman of the Remuneration Committee at both Sainsbury's and IMI.

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