March 12, 2018 / 3:02 PM / 6 days ago

Dutch government wants to block 50 percent pay increase for ING's CEO

AMSTERDAM (Reuters) - The Dutch government is exploring ways to block a proposed 50 percent pay increase for the chief executive at ING Group, Finance Minister Wopke Hoekstra said on Monday.

FILE PHOTO - Ralph Hamers, CEO and Chairman of the Executive Board of ING, attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 24, 2016. REUTERS/Susana Vera

The government “really wants ING to reconsider this proposal”, Hoekstra said.

The salary increase for ING’s Ralph Hamers has become a major theme ahead of municipal elections in the Netherlands on March 21.

Reporting by Bart Meijer; Editing by Alison Williams

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