Returning Lloyds bank boss declines annual bonus

13th January 2012, Comments 0 comments

Britain's state-rescued Lloyds Banking Group said Friday that its boss Antonio Horta-Osorio, who returned to work this week after a two-month break due to fatigue, has declined his annual bonus for 2011.

"As chief executive, I believe my bonus entitlement should reflect the performance of the group but also the tough financial circumstances that many people are facing," Horta-Osorio said in a group statement.

"I also acknowledge that my leave of absence has had an impact both inside and outside the bank including for shareholders. On that basis, I have decided to request that the board does not consider me for a 2011 bonus."

© 2012 AFP

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