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Royal Bank of Scotland Cuts CEO Down to Size with Just UKpound 1.9 Million.
Knight Ridder/Tribune Business News, March, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Mar. 25--Fred "The Shred" Goodwin, chief executive of Royal Bank of Scotland, is expected to net a basic pay and bonus package of UKpound 1.9 million for 2003, down from UKpound 2.58 million. He is also in line for UKpound 1 million under a new medium-term incentive plan.
Details of his rewards will be confirmed in the bank's annual report today.
Goodwin, whose nickname comes from his zeal for cutting costs and jobs, bagged a bumper UKpound 1.73 million bonus last year after success in taking over NatWest.
Larry Fish, who runs RBS's fast-growing American empire, made UKpound 1.8 million, down from UKpound 3.35 million. The overall tab for executive pay dropped 40...
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