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
Evaluation and analysis by Carma International. Cuttings supplied by
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