Thursday, May 10, 2018

Snouts in the trough

Melrose’s business model involves buying companies it believes are being run inefficiently and stripping out costs, before selling all or part of the business for a profit. The strategy has led to the company being accused of “asset-stripping”.
Melrose said it delivered returns of £3.6bn to investors between 2012 and 2017 via a string of takeovers that also triggered large windfalls for directors - £42m bonus to each of four directors.
 £657,000 basic pay was also awarded to its new finance director, Penny James, whose pay is 38% more than her predecessor’s.

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