Your view: RBS bank boss turns down £1m shares bonus
- 30 January 2012
- From the section Politics
The chief executive of the Royal Bank of Scotland (RBS) has decided he won't take a controversial bonus he had been awarded.
Stephen Hester was due to receive shares worth nearly £1 million.
Labour said it would force MPs to vote on the bonus after the prime minister refused to block it.
Chancellor George Osborne said it was a "sensible" decision that would let him focus on recouping money for the taxpayer and government, which owns 82% of the company.
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Mike Seymour - "Makes no odds, he'll get remunerated by some other covert means, away from the prying eyes of the media.
"What will they do with the £900k + that they were going to pay him?
"Think it's just going to be re invested into the bank. I don't think so."
Colin Hardy - "No, it isn't right - whilst I don't agree with it, he was given it and that was part of his contract.
"What should be looked into is the contract itself that allows this offer of payment to be made."
Matthew Chivers - "I think he probably did deserve a bonus. Just perhaps not £1m... Wouldn't have been too fussed if it was £300,000 or something.
BUT then you've gotta think... Getting a bonus in shares is a really really good thing!
"Because if he's doing a rubbish job, the value of the shares will go down, and he'll only be hurting his own pocket...
"If he does a really good job then the shares will go up in price... So it's motivation for him to run the bank properly!"
Tom Carr - "Not the right decision.
"£2bn pre tax profit in 3 months as opposed to £1.6bn loss in the same period last year?
"If you ask me he deserves more than 1 million pounds worth of shares."
Steph Hobbs - "Best outcome, the rest to turn them down now and have a bit of sincerity at this time.
"They should not have bonuses at all.
"I'm sure people wouldn't hate bankers as much as they do if this was the case.
"Crisis is GREED by people up top."
Crispin Fisher - "Whilst he appears to have done a good job so far only time will tell if he has properly turned the bank around.
"Any bonuses should be paid when the bank is no longer in public ownership."