THE former boss of the Scottish National Investment Bank was paid £177,500 after she left her post immediately rather than working her notice period, it has emerged.
Eilidh Mactaggart resigned in February after nearly two years in the post, citing "personal reasons".
She chose to leave with immediate effect and it has now been revealed that she was given half of her £235,000 annual salary when she left.
The money was sent to Mactaggart so she would not have to work her contract's notice period of six months.
READ MORE: Scottish National Investment Bank's Eilidh Mactaggart didn't get a payout after quitting
The bank said the former boss was paid "six months' notice which was due under the terms of her contract of employment", adding that no other financial settlement was made.
Scottish Government documents reported by The Herald reportedly showed detailed planning by officials to announce her resignation.
This included responses for Scottish ministers over likely questions posed to them by journalists.
One redacted document reportedly said if ministers were asked, to say that they had been informed about Mactaggart's departure on February 18, and then if pushed further, to say that officials were made aware at the end of January.
The documents are also reported to say that Mactaggart should not work her notice period to allow the investment bank as well as its staff to move on quickly.
Scottish LibDem MSP Willie Rennie said the documents suggested "there is undoubtedly more to this situation than ministers have been prepared to let on".
He said: "If Eilidh Mactaggart quit for personal reasons or left for another role, then it is far from clear why she would be due six months' salary as a payoff.
"The finance secretary needs to explain why this payoff was appropriate and why officials were so concerned about media-handling."
The bank was created in 2020 to provide long-term investments to Scottish firms, and since then has made 13 investments totalling just under £200 million.
The Scottish Government has pledged another £2 billion of funding for the bank over the next decade.
In March, opposition parties had claimed it was "suspicious" timing for Mactaggart's resignation, with Nicola Sturgeon denying it was in relation to a new economic strategy.
The First Minister refused to address the reasons for Mactaggart’s resignation at the time, citing her right to privacy.
“Everyone across the chamber will understand that I’m not going to go into the confidential details of anybody’s employment situation here in the chamber,” she said.
“This issue is not a matter for Scottish Government ministers, it’s a matter for the board of the Scottish National Investment Bank – ministers had no input into that, although we were told earlier in February that the chief executive would be leaving the bank imminently.”
READ MORE: Gordon Brown says UK Government should have power over Scottish investment bank
A Scottish government spokesperson reiterated Sturgeon, saying ministers had no input into the resignation of Mactaggart.
They added that the bank's chair, Willie Watt, had advised Scottish government officials on 31 January that the chief executive had offered her resignation.
The spokesperson added: "The Scottish government and the bank discussed the possible terms of that resignation and potential successor arrangements over the following weeks - with ministers updated accordingly.
"On 18 February the resignation was formally confirmed to ministers".
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