Tower's outgoing CEO Hancock to receive long-term payment of $500,000

Sun, 16 Aug 2015

By Tina Morrison Aug. 17 (BusinessDesk) - Tower, the general insurer, said departing chief executive David Hancock will get a long-term incentive payment of $500,000, as well as a short-term incentive payment. Hancock, who is being replaced by Richard Harding from today, had his two-year contract extended beyond June 30 until the end of September to help wrap up a number of business initiatives. Hancock will receive part of his short-term incentive payment now, with the remainder assessed against future metrics and the full amount disclos...

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