Latest word on the dramas at NRMA: CEO Eric Dodd, who was fired by the board when he refused to voluntarily stand down, is understood to be seeking a $6 million severance payout.

The board’s statement to the ASX on April 10 may have added more fuel to his legal fire. Its statement that “a majority of directors had lost confidence in the CEO for reasons of both his own performance as CEO and his relationship with the Chairman and the board” may give Mr Dodd more ammunition in any future court action he takes.

Several financial analysts have downgraded NRMA stock after the company announced it had sacked Mr Dodd. A payout in the region of $2 million – similar to the level paid to Mr Dodd’s predecessor, Malcolm Jones – was previously tipped as likely.