First Group Chief Executive Resigns

[Buspilot]

Tim O'Toole has fallen on his sword after massive loss.

http://www.dailyecho.co.uk/news/16265405.Transport_boss_quits_after___327million_loss/?ref=mr&lp=9

Tim O'Toole chief executive of FirstGroup which operates South Western Railways has resigned with immediate effect as the bus-to-train firm recorded a mammoth full year loss.

The company, which is also behind First Bus and Great Western Railway, reported £327 million loss in the year to March 31, which compares to a profit of £152.6 million in 2017.

Mr O'Toole said: "The time is right for me to step aside. Today's results clear the way for the new approach sought by our chairman and the board.

"I should like to thank the 100,000 employees who work so hard to deliver for our customers every day.....

 

[farci]

...but he fell on a great big soft cushion
http://www.heraldscotland.com/busin...__FirstGroup_chief__39_s___1m_pay-off/?ref=eb

TIM O’Toole is set receive further payments from FirstGroup of at least £1 million following his sudden exit this week.

FirstGroup said last night that Mr O’Toole, who had been in charge for eight years, has agreed to be placed on garden leave until his employment with the company ends on September 30. It said he will continue to receive his current salary, benefits and pension until that date. He will also receive a maximum payment of £699,167 in lieu of salary, pension, car allowance and medical insurance for the unexpired period of his notice...

 

[Monty]

Not bad for a company that's in the red for the tune of hundreds millions of pounds. Whom do I send my CV too?