Business Services Industry
Royal Bank of Scotland Boardroom Makeup Raises Ethical Questions.
Knight Ridder/Tribune Business News, March, 2003
By Fred S. Wedge, Daily Mail, London Knight Ridder/Tribune Business News
Mar. 20--Royal Bank of Scotland boss Fred Goodwin's UKpound 2.58 million pay packet is pretty huge--but at least it is a payment for success.
Goodwin has merged the hapless NatWest into RBS far quicker than expected, and wrung out significantly more benefits.
Since the deal, RBS shares have outperformed the Footsie by 122 percent. Goodwin is even showing signs of departing from the hatchet-man image that earned him the nickname Fred "The Shred." He deserves credit for keeping the generous staff pension scheme in place, despite its UKpound 1.2 billion deficit, while other companies are rushing to close down funds.
RBS is on shakier ground when it comes to...
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