£500,000-a-year London Business School don puts £1 bag of M&S crisps on his expenses
Mr Ortalo Magné is receiving £501000 to run London Business School
François Ortalo-Magné became the first university chief to be paid more than £500,000 a year – but he is still claiming for items as low in value as £1, it has been revealed.
In 2017 he broke the pay barrier with his bumper salary but while he earns more than most can ever dream of, and has free accomodation thrown in, he has not been shy about his company expenses.
The London Business school boss has claimed for a £1.90 bag of chocolate almonds, a £1.25 antibacterial gel and a £10 drink described as a ‘222 detox’, according to receipts released after a freedom of information request.
He even charged for a £1 bag of salt and vinegar crisps from Marks & Spencer, The Times revealed.
In 12 months he has travelled to the USA and Hong Kong, among other places, with flights costing thousands of pounds.
His wife Sondra accompanied him on a trip to Dubai – and her flights were £20,000 – but the University said she was travelling in her capacity as a ‘volunteer’.
He has also been generous with staff, the expenses revealed after he billed for a £332 meal for a party for seven colleagues at the Ivy in St John’s Wood, north London.
Students at the University pay £82,000 to study for an MBA.
Without air fare his expenses for 12 months were £8,637.
French-born Mr Ortalo-Magné has spent most of his academic career in the US, joining the London Business School in August last year from Wisconsin School of Business – an institution ranked just 71st in the world in one MBA course ranking.
The news of his huge salary caused outrage, last year, with the Taxpayers Alliance calling it ‘unjustifiable’.
Mr Ortalo-Magné’s pay deal, which includes salary, benefits and pension, breaks the previous record of £444,000 awarded to Sir David Eastwood, vice-chancellor at Birmingham University.
