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RBS CEO faces tougher targets-report

LONDON
Tue Jul 14, 2009 5:06am EDT
Stephen Hester, the new chief executive of the Royal Bank of Scotland arrives for the RBS shareholders meeting in Edinburgh, Scotland November 20, 2008. REUTERS/David Moir

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LONDON (Reuters) - Royal Bank of Scotland (RBS.L) Chief Executive Stephen Hester will be given tougher performance targets to meet next year to collect his maximum bonus, according to Tuesday's edition of the Financial Times.

Citing "people involved in the decision-making" the paper said that Hester would have to hit goals on profitability and other measures, not just the share price target set out for his 2009 long-term incentive plan.

The government own a 70 percent stake in RBS after the bank had to be bailed out and there has been a public outcry over Hester's pay award of up to 9.6 million pounds for this year.


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