Jolyon Harrison earned 拢2.9m in 2018 but could not agree a future pay package
The chief executive of MJ Gleeson has left after seven years following a board bust-up about his salary and bonuses.
Shares in the firm sank more than 10% within 30 minutes of trading this morning after the firm said Jolyon Harrison had left with immediate effect.
In an update to investors MJ Gleeson said: 鈥淔ollowing extensive discussions with Mr Harrison regarding his remuneration and succession planning, the board concluded that it was not possible to find a mutually acceptable basis for Mr Harrison to continue.鈥�
Harrison earned 拢2.9m from the firm last year, not including a 拢13,000 car allowance, 拢3,500 for car fuel and a further 拢1,500 for medical insurance.
To date Harrison has been handed more than 拢12m since becoming chief executive in 2012, with his salary for 2017 sitting at 拢2.8m.
MJ Gleeson has named James Thomson, who was chief executive of Keepmoat Homes until January, as its interim boss while it searches for a permanent replacement.
No comments yet