So farewell then
In May, Iain Napier resigned as Chief Executive of Bass Brewers with a golden handshake worth almost £1m (US$1.4m). Under an agreement made before the sale to Interbrew, Bass agreed to pay Napier almost £1m if he terminated his employment with Bass Brewers’ purchaser. His departure came as a surprise. It was only a few months ago that Napier won a battle with Miles Templeman, formerly head of Whitbread’s brewing division, for the top job in Interbrew’s UK beer business. Rumour has it that Napier had been busy putting together a management buy-out for Bass Brewers - a move not favoured by Interbrew which has its own designs as to whom to sell Bass Brewers. Iain Napier is succeeded by Jerry Fowden with immediate effect. Fowden was Chief Operating Officer of Bass Brewers from 1994 to 1996..
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