Beleaguered chief executive in �500,000 Town Hall pay-off’
TOWN Hall bosses are paying out what is expected to be a six-figure sum to their chief executive Martin Smith after a financial settlement has been reached with his union. It follows a dispute between council leader Lutfur Rahman and Mr Smith at Tower Hamlets which led him to seek help from his union
TOWN Hall bosses are paying out what is expected to be a six-figure sum to their chief executive Martin Smith after a financial settlement has been reached with his union.
It follows a dispute between council leader Lutfur Rahman and Mr Smith at Tower Hamlets which led him to seek help from his union.
Nearly two weeks after the reported dispute, councillors are still waiting for an official explanation about what led to the fall out.
There have been secret negotiations for days between the Association of Local Authority Chief Executives and the council.
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An Opposition insider said earlier: “I’ve heard that a deal is closed to being reached and that’s expected to be �500,000 including his pension contributions.”
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Union spokesman Alastair Robertson told the East London Advertiser this evening: “A financial settlement has been agreed in principle with fine print still has to be tidied up.
“Martin will be on special leave because they don’t want him back at the Town Hall. His employment will finish early July.”
The exact pay out’ agreed has not been disclosed. But the union said the maximum would be twice Mr Smith’s salary, plus possibly the salary of the notice period.
This deal is expected to be at the higher end of the scale, according to Mr Robertson, who is chief executive himself at Watford Council. It is believed Martin Smith earns around �175,000 a year.