One power struggle later and former Stobart executive chairman Avril Palmer-Baunack is but a small line in Stobart Group’s solid six month results.
The former Autologic boss Palmer-Baunack was ousted after just three months in the job back in May, and from media coverage of events The Hub suspects all concerned are probably relieved its over.
However, that’s not to say the departure was painless. Hidden in note eleven to the accounts, are five lines detailing the chairman’s departure on the 16 May, and the fact that her severance pay – while modest perhaps by the excesses of the City – was nevertheless more than £1.13m.
Given Stobart snapped up Autologic for £12.4m, The Hub makes that approaching 10% of the value of the vehicle mover at purchase (and not far off the pre-tax profit of Stobart's fast growing Biomass division, which registered £1.6m in the latest half year accounts).