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ING Groep N.V. Message Board

  • charlesmangarella Jul 6, 2012 1:12 PM Flag

    Bonus money while no dividends

    The share holders were screwed again..... lost share price and no dividend while 120 managers still get bonuses and others large pay increases?
    Do the shareholders have no say in how the company is run. The team at the top should resign.

    Last year, ING backed down on plans to award bonuses of up to 1.25 million euros ($1.6 million) to members of its executive board after being criticised by politicians for doing so at a time it was still benefiting from state aid.

    The bank later promised to suspend bonus payments to the board until it had repaid 10 billion euros received from the Dutch state at the height of the credit crunch in 2008.

    Some 19,000 ING employees who will lose out on bonuses will receive a gradual wage hike of 9.3 percent over the next 18 months instead.

    Some 120 senior managers, as well as staff including investment bankers and mortgage advisers will still receive bonuses, the spokeswoman said, though they would be smaller than in the past. ($1 = 0.8028 euro)

9.54+0.24(+2.52%)Jun 27 4:01 PMEDT