From REUTERS:
LONDON, March 17 (Reuters) - Below are highlights from City minister Paul Myners' testimony to parliament's Treasury Committee on Tuesday.
ON FORMER RBS CHIEF EXECUTIVE FRED GOODWIN'S PENSION:
"You'll also notice that they gave Sir Fred a choice of either taking his full pension at 50 or his full pension at 60. I think you'd have to have been a monkey in that situation to have spent a great deal of time deciding which of those choices to take."
"I was very clear with RBS about the principles the government expected to follow in dealing with departing executives. I developed a script for these meetings...There should be no rewards for failure, payments to departing executives should be minimised.
"There was no question of Fred Goodwin of being able to decline the offer of an early retirement." Continued...
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