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Trouble is, at less than £300k you are only going to be able to attract senior middle management from the private sector, not the top leaders. Terry Leahy has been mentioned. He earned £5.2m in 2010 for running Tesco. He has retired with a pension pot worth over £18m. So, why risk his excellent reputation for pocket money?

Yes, to the publec sector £300k is a big salary, but to the private sector it really is not!

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