Building society bosses try to look virtuous, says Jeff Prestridge in The Mail on Sunday. But their six-figure bonuses, at a time when the pandemic has raged” and savers “have experienced savage cuts to the income they receive on their deposits,” seem “egregious and terribly unmutual. ”
Yorkshire Building Society has announced an additional £1m investment in the communities it serves-a “commendable” sum that is belittled by the combined £528,000 bonuses paid to CEO Mike Regnier and two executives.
Coventry boss Steve Hughes only joined the society shortly after the pandemic began in March. Yet he received a full year’s executive bonus of £140,000, an “annual success” bonus of £23,000 and £160,000 for resigning from rival Principality.
Meanwhile, Richard Fearon, who runs Leeds, also enjoyed a £190,000 bonus, taking his total pay to £684,000, up 3.8% in 2019.
Kris Paterson is a writer for WhatJobs.com
Image credits: Interactive Investor