The departing boss of struggling Mitie has been given a payoff worth more than half a million pounds.
Baroness McGregor- Smith, who quit her job at the outsourcing firm in October after claiming her children complained they didn't see enough of her, will be paid her salary, pension, car allowance and other benefits until the end of October next year.
The businesswoman, who is being replaced by Phil Bentley, the former managing director of British Gas, will receive £445,355 for the remainder of her notice period – which expires in October next year as well as £76,000 in legal fees.
Her departure follows a tough time for Mitie, which issued a surprise profit warning in October and sent shares tumbling to a six-and-a-half-year low.
The firm also last month revealed it was pulling out of the home healthcare business, blaming rising wage costs for a collapse in profits.
Baroness McGregor- Smith, who took home £2.5million in pay and bonuses last year, said she will spend more time at her £2.8million home in Ascot in Berkshire.
Announcing her departure back in October she said: 'Being a mum of two young people was always something I had to juggle with work. It's been really tough.'
