HSBC and Lloyds are showing the way, but it’s still one rule for bosses and another for staff
At HSBC and Lloyds in the past week, we’ve been treated to a rare sight: boards deciding not to defend the indefensible on executive pay. The issue has been executive pensions, territory in which large companies have spouted more self-serving nonsense than in almost any other area of boardroom rewards. If the mini-capitulations by the two banks prompt a wider rethink, bring it on. Current pension practice, as it applies to executives, has become an exercise in pulling wool over eyes.Continue reading...
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