HSBC retreats on chief’s pay award

The FT notes:

HSBC has yielded to shareholder protests and backed away from controversial plans to award its chief executive, Michael Geoghegan, a substantial rise in his base salary of more than one third.

Now how about doing the same for the rest of the bankers' pay?

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2 Responses

Carol Wilcox says:

February 24 2010 at 12:03 pm

You blogged recently about another set of *ankers foregoing bonuses. I read on that day (in Morning Star – great paper) that they had just made several millions by selling their shares – so hardly much of a sacrifice.
simon says:

February 24 2010 at 12:22 pm

Yes, we have to look at total remuneration including any deferred