Business

Magellan offers staff bonuses to stay


Atlas Funds Management chief funding officer Hugh Dive mentioned Magellan’s retention plan may dilute shareholder worth and didn’t appear like it could successfully incentivise workers as a result of the share value had an extended technique to go earlier than the choices could possibly be cashed.

“It doesn’t look good. If the share price doesn’t get up to $35 by 2024, they’re worthless.”

Mr Dive mentioned portfolio administration jobs are presently in demand, including “cold hard cash” could be more practical. “Magellan is going to be pretty hard work for the next few years,” he mentioned. “There are a lot of other options out there, other jobs, that are easier.”

Generally talking, Mr Dive mentioned retention plans have been an indication an organization was below strain. “You only see retention plans when there are lots of problems in an organisation and people have alternatives.”

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