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UK Media Magnate Heads for Lucrative Retirement

News, 11 April 2005


British media magnate Lord Clive Hollick (59) is to retire next month as ceo of United Business Media with a £14.5 million ($27m, €21m) pension pot paying out more than £700,000 a year.

Leaving UBM after a tenure of more than thirty years, Hollick will supplement his pension with unspecified earnings as managing director of the European arm of US venture capital marauder Kohlberg Kravis Roberts.

His pay at UBM last year rose 9% to £1.44m - a basic £688,400, a bonus of £390,000, benefits of almost £18,000, and a deferred share award of more than £344,000.

Hollick's successor, David Levin who joins from cellphone software firm Symbian, will receive a basic salary of £500,000.

Data sourced from Telegraph.co.uk; additional content by WARC staff