Morning:
9°c
Failure pay-out
Evening Standard comment25 Oct 2007
The Metronet consortium was responsible for running two-thirds of the Tube network but it collapsed after it failed to control its costs and repeatedly let down passengers with delays and cancellations, often following over-running engineering work.
Its management emerged from the debacle with its reputation in shreds. So it will come as a disagreeable surprise to Underground passengers to find that five of the executives of Metronet are to be given pay-offs totalling more than £1 million, including £500,000 for Andrew Lezala, the chief executive.
Perhaps they were contractually entitled to these generous severance payments - but their performance certainly did nothing to warrant them. Critics have called the pay-offs a reward for failure and the critics are right.
