The Guardian reported that Mr Kirby Adams, the outgoing CEO of Corus is believed to have been paid more than GBP 2 million.

According to the annual report of TATA Steel Europe, the highest paid director for the financial year ending in March received GBP 2,039,140. Because it is no longer publicly listed, after it was bought by the Indian group TATA Steel in 2007, the company does not have to identify the director in question. But it is almost certain that Mr Adams, who is to stay on as a paid consultant when he quits his present job, was the beneficiary.

Mr Adams will leave Corus in September 2010 for personal reasons, less than 18 months after taking the helm at the troubled group.

Local MPs accused him of relishing antagonistic confrontation during negotiations with unions over the future of the TCP plant. The jobs were lost after the partial mothballing of one of Corus's plants, Teesside Cast Products.

The trade union Community described Mr Adams's pay as an insult to all steelworkers. Mr Michael Leahy general secretary of Community said that "When Corus has been crying poor and offering pitiful pay rises to our members, who worked tirelessly to bring the company back to profitability, this revelation of boardroom excess is an insult to all steelworkers."

(Sourced from www.guardian.co.uk)