Bloomberg News

Lloyds Says Ex-CEO Eric Daniels’ Bonus Will Be Reduced By 40%

February 20, 2012

Feb. 20 (Bloomberg) -- Lloyds Banking Group Plc’s former chief executive officer, Eric Daniels, will see his 2010 bonus award cut by 40 percent.

The bonus will be cut by reducing the amount awarded in deferred shares, the bank said in an e-mailed statement today. Some 12 other directors and executives will see their bonuses reduced in the wake of a judicial review of how the bank sold payment protection insurance.

To contact the editor responsible for this story: Keith Campbell at k.campbell@bloomberg.net


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