HSBC £120m directors’ package set for protest
By Philip Aldrick
HSBC’s controversial £120m pay package for senior directors is expected to win shareholders’ approval at today’s annual meeting, but it will have to acknowledge a large protest vote.
About a fifth of shareholders are expected to oppose the remuneration changes or abstain from voting. Earlier this month, GlaxoSmithKline’s remuneration report scraped through after almost 40pc of shareholders rejected it or abstained from voting.
Royal Dutch Shell recently had to acknowledge a large protest vote, after a third of investors opposed plans to give three directors 1m (£785,000).
Under HSBC’s plan, chief executive Mike Geoghegan would be the highest-paid director. On top of his basic salary of £1m, he could receive a bonus up to four times salary and a long-term incentive plan that could be equivalent to seven times salary, equating to a potential package of £12m a year.
In total over three years, the bank’s top five directors could pocket £120m if they hit stretching performance targets. The Association of British Insurers has issued an “amber” rating, indicating concerns. Pirc, the corporate governance adviser, is calling for a vote against the scheme, labelling it “excessive”.
HSBC is expected to get the report through with about 80pc in favour, far off the bank’s normal approval levels of over 95pc. Dissident shareholder Knight Vinke will voice its concerns over the bank’s strategy. It has urged the board to appoint an independent adviser to review the options for its troubled US business, which has taken $15.4bn (£7.8bn) of sub-prime provisions so far.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/30/cnhsbc230.xml
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
