Lloyds chief waives £2.4m bonus
Friday 13 January 2012 - by Andrew.Hickley@gfsnews.com
The Portuguese told the group's board that he does not want to be considered for an annual bonus following a two-month stress-induced leave of absence taken between November 2011 and the start of January.
The 47-year-old's announcement that he would be taking a leave of absence saw rating agency Moody's warn that it may have to downgrade the bank.
The rating agency said in November that Lloyds faced a "major challenge in ensuring continuity of leadership" with Horta-Osório's stand-in, Tim Tookey, set to leave the bank in February 2012. Moody's ultimately elected to leave the bank's rating unaffected.
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