SHARES in data centre provider
In a statement Tobin said it was "time to move on. Having led the company for over a decade… the board and I agree that with the business in excellent health, now is the time… to explore other important opportun-ities and to make way for a new chief executive to take the company to the next stage of its development."
The company said Tobin would step down at the end of October. And it added that it would begin an immediate hunt for a new chief executive. Tobin will receive a "golden good-bye" of more than £750,000, plus £70,000 in compensation for statutory claims arising from the termination of his employment, and £10,000 (plus VAT) of outplacement counselling.
"After his decade of leadership, he and the board have concluded that now is the right time for a new leadership team to take the company to the next stage."
THE CAPITALIST : Page 9 .
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