AU
When is the right time to call it quits?
26 August 2008
Challenger Financial Service Group has been rocked by the shock exit of chief executive Mike Tilley.
Tilley walked out less than a year after securing a contract extension until 2011 because he and the board decided it was “a good time for him to go”. (Sydney Morning Herald)
What do you think of Tilley’s timing? Would you be pleased to leave with three years still to run on your contract? Or would a Tilley-type AU$1.75m termination payment help to ease the pain of saying goodbye?
Challenger chairman Peter Polson claims Tilley has lead the firm “through the eye of the storm”. But was Tilley pushed after Challenger reported a net loss for 2007/08 of AU$44.2m?
Plan your exit strategy below.
What rubbish - the right time to call it quits is when you get told to - like Tilley did
Roo 27 Aug 2008
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