HSBC and Shell FDs face remuneration changes
Shell and HSBC boards take different paths on their remueration policies for top executives, including Douglas Flint and Simon Henry
Pay rise looming for HSBC FD Douglas Flint?
Shell
CFO Simon Henry has had his salary frozen at the oil giant, along with chief
Peter Voser and head of exploration Malcolm Brinded, as part of its plans to
stave off further investor dispute over pay.
Salaries will be frozen until 2011, as part of its wider plans to provide a
more robust remuneration policy.
Last year nearly 60% of shareholders voted against Shell’s plan to award
discretionary bonuses.
Discussions are ongoing about increasing the salary of
HSBC FD
Douglas Flint and chief executive Michael Geoghegan, according to reports today.
Flint’s base pay could rise to nearer £900,000 from £700,000, according to
the FT.
HSBC said it had an excellent record of transparency around it remuneration,
and the business has been profitable and has not taken any taxpayer money.
Yesterday
Barclays
chief executive and chairman waived their bonuses, although FD
Chris Lucas will receive his full remuneration.
Further reading:
Profile
– Douglas Flint, group FD of HSBC
