‘The boss of defence giant BAE Systems stands to make £18million almost overnight if the firm’s controversial merger goes through.
Chief executive Ian King is sitting on millions of lucrative share options which would usually take years to mature. But in what critics branded a ‘scandalous’ twist, they would pay him the giant windfall straight away if the £30billion deal to combine forces with the French and German-controlled aerospace conglomerate EADS is approved.
Details of Mr King’s potential payday are now likely to be probed by the House of Commons Defence Select Committee, which is holding an inquiry into the proposed merger. It strengthens the claims of critics that a charmed circle of ministers, company bosses, senior mandarins and former civil servants is engaged in a stitch-up to push through the deal behind closed doors.’