Ex-Scottish National Investment Bank CEO Eilidh Mactaggart quit his job with a payout of £117,500

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Eilidh Mactaggart was CEO of the Scottish National Investment Bank (SNIB) and resigned for personal reasons on January 27.

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However, it has been revealed that Ms Mactaggart received the payment, which is half her annual salary of £235,000, and left immediately rather than work her six months’ notice. She would also have received half of her £37,500 annual bonus

Ms Mactaggart’s departure initially came as a shock with very few details given at the time.

It took the bank until February 25 to make the decision public, prompting MSPs to question why Ms Mactaggart had made the decision to leave.

Last month, bank chairman Willie Watt and board member Carolyn Jameson initially declined to elaborate on Ms Mactaggart’s decision to leave, saying there was a ‘duty of care’ the bank owes comply as an employer, as well as the former general manager. own request for confidentiality.

Ms Jameson had said no severance package had been offered.

Eilidh Mactaggart has stepped down after two years in the role.

Critics accused the SNP of a cover-up and that ministers ‘tried to cover up’ what happened at SNIB. Ministers were also asked to give a date on which they were informed of his departure.

Nicola Sturgeon told MSPs during a Prime Minister’s Questions session that the government was made aware of Ms Mactaggart’s resignation ‘earlier in February’ than the February 25 public announcement.

In official briefing documents, ministers were asked to say that the government had been informed of the resignation on February 18.

Earlier emails show Finance Secretary Kate Forbes was aware of the decision and the need for a successor as early as February 11.

Scottish Conservative finance spokeswoman Liz Smith said: ‘Questions will inevitably be raised about why the SNP appear to have again attempted to confuse events at the Scottish National Investment Bank.

“As usual, the SNP is doing everything it can to avoid scrutiny and accountability. With so much public money – and indeed Scotland’s long-term economic prospects – at stake, the public has a right to expect their government to be open and transparent.”

A Scottish National Investment Bank spokesperson said: “Eilidh was given six months’ notice, which was due under his contract of employment.

“No other financial settlements have been made.”

A Scottish Government spokesperson said: “As the First Minister has told Parliament, ministers had no influence on the former chief executive’s resignation, despite being told earlier in February that the CEO would leave the bank imminently.

“The bank’s chairman, Willie Watt, informed Scottish government officials on January 31 that the chief executive had offered him his resignation. The Scottish Government and the bank discussed the possible terms of this resignation and potential successor agreements over the following weeks – with ministers being updated accordingly.

“On February 18, the resignation was formally confirmed to ministers. The former chief executive was paid in lieu of her notice period in accordance with the bank’s contractual obligations.

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