MEDIA: WHAT THE PAPERS SAY; Gas chief’s departure leaves a nasty smell

The furore over Cedric Brown’s ‘golden handshake’ sidelined reports on the planned split of British Gas. Media debate on his departure and leaving package was wide-ranging.

The furore over Cedric Brown’s ‘golden handshake’ sidelined reports on

the planned split of British Gas. Media debate on his departure and

leaving package was wide-ranging.



Robert Hardman of the Daily Telegraph said: ‘The issue was whether Brown

had been forced out and how much money he would be taking with him.’

Brown maintained that his decision to leave was voluntary.



The decision by British Gas to split into two independent companies,

Transco and British Gas Energy, was described as, ‘the biggest

restructuring of any British privatised company’. But that and the

disastrous North Sea contracts received comparatively little attention.

While British Gas remained characteristically tight-lipped about the

changes, some analysts felt they might be too late. Meanwhile Richard

Giordano, British Gas chairman and chairman of the two new companies

cannot afford to be complacent as there were calls for him to step down

as well.



Evaluation and analysis by Carma International. Cuttings supplied by

Standard Press Analysts. ‘What The Papers Say’ can also be found at:

http://www.carma.com/carma.



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