Reynolds to get $1.75M ‘termination payment’ on departure from Telecom NZ

Sun, 01 Jul 2012

July 2 (BusinessDesk) - Paul Reynolds will get a ‘termination payment’ of $1.75 million following his departure from Telecom last week Chairman Mark Verbiest said the payment had been offered to Reynolds to ensure he remained with the company through its structural separation and the establishment of Telecom as a separated business. "The company needed certainty as to when Paul would depart and this agreement allowed time to find an appropriate CEO for Telecom’s new business, ensure an orderly transition and stability in our interim leadersh...

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