Departing Admiral CEO gives staff a huge present

The CEO of insurance giant Admiral is feeling generous, pledging to give each of his 8,000+ staff a £500 or £1,000 cash present before he steps down next month.

Henry Engelhardt and his wife Diana Briere de I’Isle announced the gifts, which amount to £7million in total, at Admiral’s annual staff meeting in Cardiff.

The gift means that full-time staff who have been with company for at least a year will receive a £1,000 cash payment, regardless of seniority, in their May pay packets, the BBC reports.

And a far smaller number of staff who have been with Admiral for less than a year will receive a £500 cash payment from the couple.