By Anna Parker, 10 October 2001 15:30
NEWS Two former Marconi bosses, who oversaw the collapse of its share price from 978p to just 16.5p, have received pay-offs totalling just under £1m. Lord Simpson, former chief executive of Marconi, has agreed a package valued at £300 000 and has agreed to waive all future pension claims. John Mayo, formerly deputy chairman of Marconi, will receive £600,000. If the two ex-bosses invest their payments in shares that perform as poorly as Marconi has over the last twelve months they will be left with just £5,100 and £10,200 each.
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