Deane set to get golden handshakes

Roderick Deane stands to get golden handshakes worth a total of at least $1.5 million when he leaves the boards of Telecom and ANZ Bank, The Dominion Post reports today.

The paper said that the latest annual reports of the two companies show Dr Deane would be paid A$693,000 ($859,480) by ANZ Bank in Australia and $661,000 by Telecom on his retirement.

Both figures were from 2005 reports, so Dr Deane would get more when he officially went.

Dr Deane has indidicated he intends to leave the ANZ board in June and give up the chairmanship of Telecom in the next year.

- NZPA