Back to Legal Industry News

Ex-council exec 'may have got £400k under compromise agreement'

Ex-council exec 'may have got £400k under compromise agreement'

A former council boss may have received a significant amount of money after resigning from his job under the terms of a compromise agreement, it has been revealed.

According to a recent report on ChronicleLive, Ian Stratford, the former chief executive of Newcastle city council, left his position recently at the age of 54.

The online resource suggested that, although the details of the financial package have not been revealed, there is speculation that it may have seen the executive walk away with as much as £400,000.

A spokesman for the local authority said: "As has been made clear in a previous press statement, the details of the financial settlement between the council and Mr Stratford are confidential and accordingly the council cannot comment."

He added that the terms of Mr Stratford's departure are the subject of a compromise agreement made between him and the council.

Compromise agreements are legally binding and follow the termination of a worker's employment.

They usually provide for a severance payment made by the employer.