Business Services Industry
Royal Bank of Scotland Faces Renewed Shareholder Fury over Executive Pay.
Knight Ridder/Tribune Business News, April, 2001
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Apr. 10--Royal Bank of Scotland is facing heavy shareholder protests at its annual meeting tomorrow, as the row over executive pay takes a fresh twist.
The latest controversy involves UKpound 1 million of share options awarded to executive deputy chairman Sir George Mathewson.
Influential lobby group the National Association of Pension Funds believes up to one fifth of shareholders will register protest votes.
The new row centres on a change in RBS policy affecting Mathewson's options. In 1999 he was not granted any new options because he was two years from retirement age.
But a year later he was awarded almost 150,000 new options, worth more...
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