UK: RBS chairman gives up £1.4m bonus

Bank announces that Sir Philip Hampton will not receive bonus amid controversy over decision to award RBS chief executive Stephen Hester £963,000.

 Royal Bank of Scotland chairman Sir Philip Hampton will not receive a £1.4m share award because he had not meet the performance criteria attached to them when he was first awarded them when he joined the bank in 2009. Amid the controvery over a near £1m bonus for chief executive Stephen Hester, it had been reported that the controversial share award would not pay out and on Saturday: “Sir Philip Hampton will not receive the 5.17m shares he was awarded in 2009 when he joined RBS.” 

While Hampton had decided not to accept the award of 5.2m shares – which was handed to him when he joined the bank in 2009 – it is understood that the conditions attached to the potential pay out had not been achieved.

 chairman Sir Philip Hampton will not receive a £1.4m share award because he had not meet the performance criteria attached to them when he was first awarded them when he joined the bank in 2009. Amid the controvery over a near £1m bonus for chief executive Stephen Hester, it had been reported that the controversial share award would not pay out and on Saturday: “Sir Philip Hampton will not receive the 5.17m shares he was awarded in 2009 when he joined RBS.” 

While Hampton had decided not to accept the award of 5.2m shares – which was handed to him when he joined the bank in 2009 – it is understood that the conditions attached to the potential pay out had not been achieved.

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Categories: Europe, UK

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