02 November 2011

Not good enough

I can sympathise when an employee is overworking and gets a bit tired.  The Guardian explains:

Lloyds Banking Group has been thrown into chaos by the sudden illness of new chief executive António Horta-Osório.
The bailed out bank recruited the Portuguese-born banker with much fanfare at the start of the year but he has asked the board for a temporary leave of absence.
The 47-year-old is thought to be suffering from fatigue due to overwork. He is expected back before the end of the year.

On the other hand, this guy received a rather nice signing on fee:

Taxpayer-backed Lloyds Banking Group is expected to face tough questions at its annual meeting today over a multimillion-pound pay deal for its new chief executive.
Shareholder groups the Association of British Insurers (ABI) and Pirc have both raised concerns about António Horta-Osório's signing-on deal, worth up to £13.4m, to their members.

As a taxpayer, a shareholder and an account-holder, I think that I am entitled to ask why the bank hired - at vast expense - a guy who can't hack it?


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