Hester bonus to be less than £1m, say reports
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Royal Bank of Scotland chief executive Stephen Hester is set receive an annual bonus of between £800,000 and £950,000.
According to Sky News, RBS directors agreed the remuneration package yesterday with the announcement becoming public as soon as tomorrow.
The bonus will consist of approximately 3 million RBS shares and will be deferred for three years.
Hester received an annual bonus of just over £2m in 2011. The deal is seen as a compromise from the initial bonus figure, thought to be in the region of £1.6m.
Earlier this week, Labour leader Ed Miliband called on the Prime Minister to intervene and stop RBS chief executive Stephen Hester taking his bonus.
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Readers' comments (2)
Becoming a headcase IFA | 26 Jan 2012 3:46 pm
As little as that? The poor bloke.
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Concerned Taxpayer | 26 Jan 2012 5:18 pm
So what's the bonus actually for - has RBS made a significant profit and has it paid back the british taxpayer? I don't think so!!
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