Thursday, March 10, 2011
Royal Bank of Scotland was branded ‘a disgrace’ after handing its chief executive Stephen Hester a £7.7million pay package for last year – even though the bailed-out bank lost more than £1billion.
The bank revealed that Mr Hester and eight of his top team are sharing a bonus and shares windfall totalling £28million for 2010, despite presiding over a dismal performance.
Mr Hester gets a £1.2million base salary, plus a £2.01million bonus in shares and the chance to get a further £4.45million under a long-term incentive scheme.'
Posted by DotConnector at 09:41