Further to our note yesterday stating that Standard Life's new CEO, Keith Skeoch, has tried to head off a shareholder revolt over his pay by cutting £700,000 off his potential £3.5m bonus, it appears that this move has not been enough, and as the bank scrambles around in an undignified 11th-hour effort to avert a pay revolt at next week's AGM, analysts are suggesting that this implies that something has gone wrong in the boardroom. The latest report from UBS suggests that there is still some way to go before the board can get its act together on pay, but that if they do manage to agree upon a deal with Mr Ske@@
Further to our note yesterday stating that Standard Life's new CEO, Keith Skeoch, has tried to head off a shareholder revolt over his pay by cutting £700,000 off his potential £3.5m bonus, it appears that this move has not been enough, and as the bank scrambles around in an undignified 11th-hour effort to avert a pay revolt at next week's AGM, analysts are suggesting that this implies that something has gone wrong in the boardroom. Skeoch has now called on other chief executives to follow his example by volunteering for lower bonuses.