NEWS21 June 2011
US— Harris Interactive is to pay former CEO Kimberly Till $900,000 in connection with the termination of her contract, while former finance chief Pavan Bhalla is in line for a $127,000 payout.
Till (pictured), who was replaced by turnaround specialist Al Angrisani earlier this month, will get a lump sum of $120,000 in December followed by 19 monthly installments of $40,000 and a final payment of $20,000 in August 2013.
Bhalla, who was only CFO for eight months, will receive a one-off payment in December.
Angrisani has come back to Harris as interim CEO after serving as president between 2002 and 2004. He is charged with the task of turning the business around, following disappointing performances under Till and her predecessor Greg Novak.
The agency’s most recent quarterly results showed revenues down 7.5% to $38.1m, a decline of 9% excluding exchange rate effects, and operating losses up to $1.9m from $0.9m a year ago.