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?
Robin Hood has him beat any day. He left his with the rich,
Posted by: Buck on January 16, 2012 5:53 PMThat is absurd.
Posted by: knowdoubt on January 16, 2012 6:38 PMNo amount of money is worth working yourself to death for.
Posted by: John Anthony Curran on January 17, 2012 9:08 PMNow I feel sutipd. That's cleared it up for me
Posted by: Jaylon on January 19, 2012 5:27 AM