It has been reported that former RBS chief, Sir Fred Goodwin, should not recieve his £650,000 annual pension after presiding over the near bankruptcy of that bank.
On the other side of the debate Costigan Quist argues that this is what you get under a system where executives get to set their own rates of reward. Therefore, Mr Quist concludes, it would be wrong to make an example of one individual who popular opinion takes exception to for following the current set of rules.
Instead, how about changing the calculation* from
RISK + PERFORMANCE = REWARD
to something along the lines of
RISK x PERFORMANCE = REWARD
If we want accountability then those at the top must be made equally liable, in accordance and in proportion with the responsibility of their role.
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