ING: gives up executive pay plan after backlash
(CercleFinance.com) - ING's board has decided to abandon a remuneration proposal that aimed to raise its CEO's pay after the outcry provoked by the plan.
"Over the past days, many customers, employees and other stakeholders have expressed their opinion to us," commented Jeroen van der Veer, chairman of ING's supervisory board.
"We realise we have underestimated the public response in the Netherlands on this clearly sensitive matter," he said.
The plan's aim was to bring its CEO's remuneration to be "more in line with an adjusted median of European companies," ING said.
This means that the proposal will not be put up for a vote at the AGM scheduled for 23 April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"Over the past days, many customers, employees and other stakeholders have expressed their opinion to us," commented Jeroen van der Veer, chairman of ING's supervisory board.
"We realise we have underestimated the public response in the Netherlands on this clearly sensitive matter," he said.
The plan's aim was to bring its CEO's remuneration to be "more in line with an adjusted median of European companies," ING said.
This means that the proposal will not be put up for a vote at the AGM scheduled for 23 April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.