AAP General News (Australia)
02-03-2004
Fed: Golden handshakes facing more scrutiny from ALP/Dems
CANBERRA, Feb 3 AAP - Companies making golden handshakes to top executives could face
tougher scrutiny with Labor and the Australian Democrats demanding changes following the
$3 million payout to bank boss Frank Cicutto.
Mr Cicutto has resigned from the National Australia Bank (NAB) amid ongoing fallout
over $360 million in losses from unauthorised foreign currency trades.
NAB said Mr Cicutto, who had been with the bank for 37 years, would receive a resignation
payment of $3.27 million, including a payment in lieu of six months notice, but …
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