TWO FORMER Wandisco executives have been asked to hand back nearly £650,000 in bonuses they received before the software company became embroiled in an accounting scandal earlier this year.
Richards and Miller both stepped down in April after an internal investigation found that
"In line with shareholder sentiment, and as simply the right thing to do, the board of
It asked for the payouts back because "it is clear that the bonuses paid are significantly at odds with the realities the company has faced".
City A.M. was unable to reach Richards and Miller for comment.
The next day,
Before shares were suspended, it was valued at around £880m. Its market value has dropped to £103m.
(c) 2023 City A.M., source