January 15, 2012
A Hero for Our Times

From the New York Times:

LONDON — The chief executive of Lloyds Banking Group, António Horta-Osório, decided Friday to give up his bonus for last year after taking a leave of absence from the struggling financial firm.

Lloyds, which is partly owned by the government, said Mr. Horta-Osório told the bank’s board that he did not wish to be considered for an annual bonus for 2011. Mr. Horta-Osório was in line for a bonus of as much as £2.4 million, or $3.7 million. The board accepted the request, Lloyds said in a statement.

“As chief executive, I believe my bonus entitlement should reflect the performance of the group but also the tough financial circumstances that many people are facing,” Mr. Horta-Osório said. “I also acknowledge that my leave of absence has had an impact both inside and outside the bank including for shareholders. On that basis, I have decided to request that the board does not consider me for a 2011 bonus…”

Are you listening, Jamie Dimon? How about you, Blankfein?



Posted by Jerome Doolittle at January 15, 2012 05:39 PM
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Robin Hood has him beat any day. He left his with the rich,

Posted by: Buck on January 16, 2012 5:53 PM

That is absurd.

Posted by: knowdoubt on January 16, 2012 6:38 PM

No amount of money is worth working yourself to death for.

Posted by: John Anthony Curran on January 17, 2012 9:08 PM

Now I feel sutipd. That's cleared it up for me

Posted by: Jaylon on January 19, 2012 5:27 AM
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