Business Services Industry
Bankers Ignore New Rules as Barclays' Chief Clinches Top Job at Company.
Knight Ridder/Tribune Business News, October, 2003
Daily Mail, London Knight Ridder/Tribune Business News
Oct. 10--Matt Barrett, larger-than-life chief executive of Barclays, will step up to become chairman at the end of next year, regardless of new rules on boardroom conduct that frown on such moves.
Finance director John Varley will become deputy chief executive in January and succeed Barrett at the end of the year. The present chairman, Sir Peter Middleton, 69, is standing down.
Varley's pay and bonus package will rise to up to UKpound 1.4 million, plus up to 300,000 share options. His pay packet will swell again when he takes over from Barrett, who took home UKpound 1.7 million last year.
Bob Diamond, head of Barclays investment banking arm, was pipped for the top job. But...
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