director resignation

  1. 524 Posts.
    A huge burden was lifted from the shoulders of ARL yesterday when non exec director David Stobart resigned. Stobart came to the ARL board in 1998, when Alan Jackson (the destroyer) reigned supreme, and has been seriously compensated for what ever efforts he may have made.

    In 2002 Stobart received $488,000 by way of remuneration but in 2003 he took a pay cut and only pulled down $282,000. Other non exec directors on the ARL board by comparison earned 50 to $54,000 in 2002 and 2003. Non exec remuneration in most company's is usually in the order of 50 to $100,000.

    Getting shot of Stobart and more recently moving out of office premises owned by Jackson shows the determination of the present ARL management to bring the excesses of the past to an end.

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