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Roderick unhappy with Salvesen
Page 7
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THE OUSTED CHIEF executive of logistics group Christian Salvesen has revealed he was given his chairman's full vote of confidence days before being sacked.
Edward Roderick's departure came a few weeks after the company issued the latest in a string of profit warnings. Roderick says: "I am a realist,but would have hoped that after eight and a half years with Salvesen, I would be treated with respect. I don't think I was."
Roderick was in discussion with Salvesen chairman David Fish about re-negotiating his two-year contract to a one-year deal, and Fish wanted it sorted immediately.
"You can see from the fact that they have nobody to replace me that this decision was reached in a very short time," Roderick adds.
"The chairman told me a week ago that I had his full confidence, and the company stockbrokers assured me there wasn't a clamour for my removal, so it was the chairman's decision."
A Salvesen statement confirmed Roderick's departure and revealed that chairman David Fish would act as chief executive until a replacement was found.
A Salvesen statement confirmed Roderick's departure and revealed that chairman David Fish would act as chief executive until a replacement was found.
A spokesman says: "Our main focus now is on finding the right person for the job, rather than finding someone particularly quickly." Roderick is still negotiating the terms of his pay-off, but with a two-year contract on
basic pay of £405,000 a year he is unlikely to be short of cash. He says: "I'm not sure what I shall be doing — quite possibly sitting at home for two years on gardening leave. The company does have the option of paying me off in one go, although they don't seem keen on doing that at the moment."