Admiral chief's 拢1,000 retirement gift to workers
- Published
Henry Engelhardt was one of the founders of Admiral
Thousands of staff at insurance firm Admiral will get a 拢1,000 bonus as a thank you from boss Henry Engelhardt before he retires.
Employees with at least one year's service will receive the top payment, while others will get 拢500.
Mr Engelhardt retires in May after clocking up 25 years at the group he co-founded in 1991.
Admiral employs 8,375 staff, including more than 6,000 in the UK, and the move will personally cost him 拢7m.
He said: "We are making this gift in recognition of the hard work and team spirit that has underpinned Admiral's success as we've grown from a start-up with value of 拢0 to a FTSE 100 company with a value of 拢5 billion today."
All Admiral staff, from those working in Swansea, Cardiff and Newport, to Delhi, Richmond and Rome "and all places in-between", will get the gift.
Mr Engelhardt will be replaced by co-founder and current Admiral chief operating officer David Stevens.
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