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The chief executive of Lloyds Banking Group, Eric Daniels, has decided to waive his £2.3m bonus for 2009.
The bank, which is 43%-owned by the taxpayer, said Mr Daniels took the decision to prevent a row over bonuses.
He was said to be concerned that a row would distract attention from the "excellent progress" made by the bank over the last year.
Lloyds Banking Group CEO to waive £2.3m bonus
Seeded on Mon Feb 22, 2010 12:58 PM EST
Article Source: BBC News- Enjoy this article? Help vote it up the 'Vine.
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In a statement, Lloyds said its remuneration committee, which decides bonus awards, had agreed that Mr Daniels deserved his bonus for the year.
"The committee decided that Eric Daniels... merits the full payout under the company's annual bonus scheme because of his significant individual contribution, and the group's overall performance," it said.
"Mr Daniels has informed the board, however, that he wishes to waive his bonus."
- 2 votes
#1 - Mon Feb 22, 2010 12:59 PM ESTGreat seed. tgolferman just seeded a great blog post with a video link that takes on Ed Schultz of the Ed Schultz Show on MSNBC and Talk radio. The video includes the blog posters call in to the show and his argument about the banks and the economic collapse. Check it out. You can find it here: http://bit.ly/ed-schultz-censorship. Spread the word. Keep up the great work.
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