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Former Wates boss David Allen paid £1m compensation

Grant Prior 2 years ago

Former Wates chief executive David Allen is understood to have been paid nearly £1m in compensation after leaving the firm suddenly last year.

Allen parted ways with Wates last summer after joining in 2016 and taking-up the CEO role in 2018.

He is now chief financial officer at Mace where he took up his new role at the start of this year.

Page 148 of the latest published accounts for Wates reveal that the company’s highest paid director received £992,000 “compensation for loss of office” on top of a £491,000 salary.

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