Admiral boss gives 10million to staff as fairwell retirement
Admiral boss gives 10million to staff as fairwell retirement
Author
Discussion

leef44

Original Poster:

5,157 posts

177 months

Friday 18th September 2020
quotequote all
https://www.bbc.co.uk/news/uk-wales-54203722

Admiral insurance company boss gives 10 million to staff. He retires, leaves the company but shows recognition that he would not have earned all his millions if it was not because of the staff.

That's a refreshing change and a nice gesture.

dukeboy749r

3,236 posts

234 months

Friday 18th September 2020
quotequote all
I think that's admirable of them to do.

Doofus

33,325 posts

197 months

Friday 18th September 2020
quotequote all
His business partner did exactly the same thing four years ago. Albeit only totalling £7m at the time.

JuanCarlosFandango

9,557 posts

95 months

Friday 18th September 2020
quotequote all
A bit more than a gesture. That's a lot of money. Good for him.

wiffmaster

2,617 posts

222 months

Friday 18th September 2020
quotequote all
Lovely gesture - sure it'll cheer up his employees after what has been a crap year.

Similar to what the Richer Sounds chap did last year.

BlackLabel

13,251 posts

147 months

Friday 18th September 2020
quotequote all
Generous chap.

His wife and him are very charitable.

From 2007......

“ Chief operating officer David Stevens, and his wife Heather, have donated £100m worth of shares to The Waterloo Foundation, a charitable organisation that they recently set up.”

https://www.thisismoney.co.uk/money/markets/articl...

“ In 2020, we are celebrating our thirteenth year of operation. To date we are delighted to have made over 3,000 discrete grants, and to have awarded over £87 million of funding in support of our charitable objectives. For examples of some of the brilliant organisations we have been able to support over the years, please see our grant programme pages.”

http://www.waterloofoundation.org.uk/History.html

http://waterloofoundation.org.uk/GrantProgrammes.h...

Co-founder Henry Engelhardt runs a similar outfit.

https://www.civilsociety.co.uk/news/chief-executiv...

During the COVID crisis they’ve been giving out grants - for example, to big issue sellers who couldn’t work.

https://www.bigissue.com/community-partnerships/mo...





loafer123

16,494 posts

239 months

Friday 18th September 2020
quotequote all
dukeboy749r said:
I think that's admirable of them to do.
I see what you did there wink

I agree...a great way to reflect the hard work and value created.

Starfighter

5,307 posts

202 months

Friday 18th September 2020
quotequote all
Nice of him to do that rather that just sail off in to the sunset.

leef44

Original Poster:

5,157 posts

177 months

Friday 18th September 2020
quotequote all
BlackLabel said:
Generous chap.

His wife and him are very charitable.

From 2007......

“ Chief operating officer David Stevens, and his wife Heather, have donated £100m worth of shares to The Waterloo Foundation, a charitable organisation that they recently set up.”

https://www.thisismoney.co.uk/money/markets/articl...

“ In 2020, we are celebrating our thirteenth year of operation. To date we are delighted to have made over 3,000 discrete grants, and to have awarded over £87 million of funding in support of our charitable objectives. For examples of some of the brilliant organisations we have been able to support over the years, please see our grant programme pages.”

http://www.waterloofoundation.org.uk/History.html

http://waterloofoundation.org.uk/GrantProgrammes.h...

Co-founder Henry Engelhardt runs a similar outfit.

https://www.civilsociety.co.uk/news/chief-executiv...

During the COVID crisis they’ve been giving out grants - for example, to big issue sellers who couldn’t work.

https://www.bigissue.com/community-partnerships/mo...
The ex-Persimmon boss could learn a thing or two from this after his 100 million bonus for government helping hand outs.

loafer123

16,494 posts

239 months

Friday 18th September 2020
quotequote all
leef44 said:
The ex-Persimmon boss could learn a thing or two from this after his 100 million bonus for government helping hand outs.
I think you may be of the mistaken belief that the managers of large house builders have any morals at all.

Klippie

3,608 posts

169 months

Friday 18th September 2020
quotequote all
It just shows how great some companies can be...that's a real nice thank you to his staff.

Now then how about the same from the huge multi nationals...I'd love to hear that conversation with the shareholders.

anonymous-user

78 months

Friday 18th September 2020
quotequote all
The Admiral group gave £25 to their policy holders a few months back. Due to less claims during lockdown. Good stuff.

Gecko1978

12,302 posts

181 months

Friday 18th September 2020
quotequote all
While it might be hard for some firms to do this with shareholders this appears to be from his personal fortune. I am sure he is still very rich but fact is he could have kept it but instead gave back to those who helped him create a fortune.

Newky Brown

1,657 posts

252 months

Friday 18th September 2020
quotequote all
I worked for a company for 25+ years.

When the two owners sold up and shared the best part of £350 million, the majority of the 500 workforce got sweet F.A. Not even a few quid for a party.

The only ones who ensured their pockets were well and truly lined were the half a dozen divisional directors.

The Moose

23,572 posts

233 months

Friday 18th September 2020
quotequote all
Newky Brown said:
I worked for a company for 25+ years.

When the two owners sold up and shared the best part of £350 million, the majority of the 500 workforce got sweet F.A. Not even a few quid for a party.

The only ones who ensured their pockets were well and truly lined were the half a dozen divisional directors.
Entitled much!

Murph7355

40,937 posts

280 months

Friday 18th September 2020
quotequote all
Jimboka said:
The Admiral group gave £25 to their policy holders a few months back. Due to less claims during lockdown. Good stuff.
Per car insured thumbup

Newky Brown

1,657 posts

252 months

Saturday 19th September 2020
quotequote all
The Moose said:
Newky Brown said:
I worked for a company for 25+ years.

When the two owners sold up and shared the best part of £350 million, the majority of the 500 workforce got sweet F.A. Not even a few quid for a party.

The only ones who ensured their pockets were well and truly lined were the half a dozen divisional directors.
Entitled much!
Who?

Kent Border Kenny

2,219 posts

84 months

Saturday 19th September 2020
quotequote all
Newky Brown said:
I worked for a company for 25+ years.

When the two owners sold up and shared the best part of £350 million, the majority of the 500 workforce got sweet F.A. Not even a few quid for a party.

The only ones who ensured their pockets were well and truly lined were the half a dozen divisional directors.
That’s awful, and you say that they hadn’t been paying you for the work that you did for all those years?

Hard to believe that they would go back on their promise to give their family’s money to a load of people that they don’t know. Did you take legal advice about breach of contract?

Newky Brown

1,657 posts

252 months

Saturday 19th September 2020
quotequote all
Kent Border Kenny said:
Newky Brown said:
I worked for a company for 25+ years.

When the two owners sold up and shared the best part of £350 million, the majority of the 500 workforce got sweet F.A. Not even a few quid for a party.

The only ones who ensured their pockets were well and truly lined were the half a dozen divisional directors.
That’s awful, and you say that they hadn’t been paying you for the work that you did for all those years?

Hard to believe that they would go back on their promise to give their family’s money to a load of people that they don’t know. Did you take legal advice about breach of contract?
I didn't realise that you worked there as well and were party to the promises that were made in the early days.

I suppose you think a few quid for a party is entightlement as well?

Never mind you can nosh Moose off when he comes back on.