19 June 2009

The rewards for failure

Well? Are you satisfied that
The former Royal Bank of Scotland chief executive Sir Fred Goodwin bowed to public anger today by agreeing to give up more than £200,000 a year of his ­controversial pension.

Is your anger appeased? Or does the following still rankle?
Under the deal, Goodwin will be paid £342,500 a year, down from the £555,000 set in February when he took out a £2.8m lump sum on which RBS paid the tax. He will keep the lump sum and the £2.6m bonus he was paid in his last year at the company.

I guess the RBS staff facing redundancy may not be entirely happy ...

1 comment:

John A Thomson said...

Still grinds here, especially the part of the deal that removes all possible legal action.