Apparently, the fragrant Sly Bailey could be making a quicker exit from Trinity Mirror than she had hoped (wishful thinking).
Following a row over her £1.7 million pay package, she had decided to step down at the end of the year with a reported £1 million ‘goodbye’ pay-off.
However, the fact that TM might have to endure another seven months of the blonde axewoman at the helm may be too much for some shareholders. According to the Guardian, there’s speculation that 20% of shareholders might vote against her reappointment at this week’s AGM.
Not enough to get rid of her immediately but enough to raise concern. It’ll also be an occasion when others in the directors’ chairs will be shuffling their feet nervously.
There’s a suggestion that Ms Bailey, if she is reappointed, will be a bit of a lame executive, and TM may well appoint someone to replace her before her eventual departure.
Two things.
Firstly, any of the hundreds (or is it now in the thousands) who were handed their P45s as a result of her short-termism, along with those who are still slaving away in what remains of the TM press empire, are probably better qualified to replace her on the grounds that they know something about journalism. And that’s the business TM is supposedly in.
Second, if she does stay, can it be on the condition that she is a lame duck and doesn’t do anything until the end of the year? £1 million would be a small price to pay to keep her away from the red button which says ‘cut costs, time to close another newspaper down’.
http://www.guardian.co.uk/media/2012/may/08/sly-bailey-protest-trinity-mirror-agm?CMP=twt_fd
moilyas 