A BUST-UP in a bar could end up costing a former Automobile Association boss nearly £100million.
Executive chairman Bob Mackenzie, 64, was sacked for gross misconduct on Tuesday.
Now, according to the Daily Telegraph, he could lose 33million performance-related shares given to him when he floated the company two years ago. The news that Mr Mackenzie was dismissed after he lashed out at a male colleague in a bar saw £200million wiped from the company’s value.
A family friend called the incident a ‘Jeremy Clarkson moment’. TV presenter Clarkson was sacked from Top Gear in 2015 for an ‘unprovoked physical and verbal attack’ on a producer.
A clause in Mr Mackenzie’s contract says the AA can ‘acquire all of his management value participation shares’ if he were to be dismissed as a ‘bad leaver’. His son Peter said in a statement that his father was in hospital with an ‘extremely distressing mental health issue’.
He insisted Mr Mackenzie had not been sacked but had resigned after a doctor told him he should take time off work.