Ivell takes
consultancy role at S&N Scottish & Newcastle Retail chairman and managing director Bob Ivell, 51, is to go his own way but only after spending as much six months in a consultancy role helping to integrate the company's 1,450 pubs into the enlarged Spirit estate. Spirit, which has bought S&N Retail's estate for £2.51bn, will be run single-handedly by Karen Jones. Ivell, whose current annual salary is £325,000, is in line for a a discretionary bonus of between £155,000 and £465,000 if the S&N sale is completed by the end of the year. He said: "I will be staying around for up to six months to try and help integrate the business. Of course, it may be less than that if something else comes up." Chief executive of Scottish & Newcastle Tony Froggatt said: "Bob's professionalism in managing the business during the potentially disruptive sale process has been exemplary. "I know that he will approach the integration of the business into Spirit with the same level of commitment and skill." Ivell will leave the S&N board when the sale to Spirit completes in early November. The bonus is related to his involvement in making presentations to would-be buyers of the S&N Retail estate. Meanwhile, Jones, who made about £3m when Whitbread bought Pelican Group in 1996, is reported to be negotiating a share options package that could net her many milliions. She already has options that are set to provide her with 3% of the equity in Spirit's holding company Spirit Group Holdings.
