Former Barclays CEO foregoes bonus, deferred pay
LONDON, Barclays ex-Chief Executive Bob Diamond will forego his bonus this year and waive all of his unvested deferred bonus awards and long-term share awards, Barclays said.
Diamond had been in for deferred bonuses of up to 20 million pounds ($31 million) before he quit last week in the wake of a scandal over rigging interbank interest rates.
Diamond would receive up to 12 months’ salary, pension allowance and other benefits, Barclays said, but it did not specify how much Diamond will receive. Sky News reported he will receive about 2 million pounds in severance pay.
Diamond took home about 17 million pounds last year, including previous bonus awards that vested. On departure, he was entitled to a year’s salary — worth 1,4 million pounds and there was no automatic entitlement to any bonus.