The former chairman of Northern Rock, Matt Ridley, will receive no pay-off after resigning from the company, according to reports.
Media sources suggest that no benefits would be offered to Mr Ridley, who headed the mortgage provider for the last three years.
Former Standard Chartered chairman and BUPA head Bryan Sanderson is set to take over the reins of the troubled company if his appointment is approved by the Financial Services Authority.
Billionaire Richard Branson has assembled a consortium that has confirmed its interest in a takeover of the Newcastle firm. Investment groups such as JC Flowers are also interested in acquiring the lender.
This summer saw the impact of defaults in the US home ownership market hit the UK high street as customers queued to withdraw their savings from the bank.
Northern Rock relied on borrowing funds from the inter-bank market which was no longer willing to provide funds as banks ascertained their losses from sub-prime loans.
The crisis, which was the first run on a UK bank for over 100 years, only ended after the Bank of England said it was willing to guarantee all deposits held by Northern Rock.
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