Examination of Witnesses (Questions 120
- 123)
WEDNESDAY 23 MAY 2007
MR MICHAEL
GRADE
Q120 Chairman:
It is not unknown, is it, for non-executive chairmen to have periods
of notice?
Mr Grade: I have never in the private sector—and
I have been chairman of many companies—had a notice clause.
Q121 Lord King of Bridgwater:
You are a lucky man.
Mr Grade: Not necessarily.
Q122 Lord King of Bridgwater:
I withdraw that remark but that does exist.
Mr Grade: It is very unusual in the best corporate
governance sense that non-executive chairs of listed companies
do not have notice periods in their letters of engagement.
Q123 Chairman:
Have you any other points?
Mr Grade: No.
Chairman: We look forward to seeing you
at a later stage wearing your new hat at ITV. I am sure you look
forward to it just as much as we do.
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