The Scotsman: Comment: “Walter van de Vijver, head of exploration at Shell, got £2.5m and his boss Sir Philip Watts £1.1m. These hand-outs are a disgrace. They undermine popular capitalism. They throw goodwill down the drain.”: “Little wonder small investors are turning away in droves from the stock market.”
Posted 20 Sept 04
JUST when – if ever – will the boardroom pay bonanza come to an end?
Case after case of huge pay-outs to directors sparks shareholder fury. But the gilded, rotten caravan rolls on.
Now come two fresh cases that will stir controversy. Yesterday it emerged that Abbey National chief executive Luqman Arnold is set to make £5.1 million through Banco Santander’s likely £8.8 billion offer.
He stands to get up to £3.5m from share options. And he is also due to receive a £1.6m termination payment when he quits next June.