UK-based drinks group, Allied Domecq, has settled a long-running dispute with its former chief executive, Tony Hales. Hales had led the group through an eight-year, often turbulent spell and made a compensation claim for £2m after he was ousted two and a half years ago. The two sides were reported to have reached agreement last week. While neither side would comment on the payoff - neither at this stage is legally required to do so - details of the settlement will be laid out in the Allied Domecq annual report to be published later in the year.