Aegis pays out more than £2.5 million to departing management team

LONDON - Aegis has paid out more than £2.5 million in termination payments to the three senior executives who left the media and market research group in 2008.

Lerwill... former CEO
Lerwill... former CEO

Robert Lerwill, the former chief executive of the group, received a payment of £1.4 million, according to the Aegis annual report.

The payment included an entitlement to an extra one-year’s salary and meant that Lerwill received a total of £2.1 million from Aegis in 2008.

Mainardo de Nardis, who resigned from his post of chief executive of Aegis Media in September, received £379,000 in compensation for a six-month period of gardening leave.

David Verklin, the former chief executive of Aegis Media Americas who left the group last October, received £786,000, equivalent to 12 months' salary and benefits.

Despite announcing a 17.5 per cent rise in operating profit, Aegis also unveiled plans last December to reduce its cost through redundancies and other efficiencies.