6/3/2008 3:58:00 PM
O2 boss received £21m following Telefonica sale
O2’s former boss, Peter Erskine received a £21 million payout after resigning from his CEO position at the company, according to reports. Erskine left the operator in January and at the time was offered a two year retention payment, performance shares, share options as well as a pension payout.
Erskine received £14.6 million payments as well as a lump sum pension of £6 million. Following O2’s sale to Telefonica, he also got £12 million in 2006 having turned around the misfortunes of the company since its demerger from BT in 2001.
Erskine led the £17.7 billion sale of the operator to the Spanish company.