RBS is looking for a new chief executive. And it seems, according to the FT, that no one outside RBS wants the job.
Which then begs the question why the person who will take it – who will probably be promoted internally – needs to be paid many millions a year for a job that there’s no competition to fill.
But I am sure the remuneration committee will overlook that fact and it will be triples all round whatever the outcome.
What excellent logic.
We\’re finding it very difficult to find someone to do this job. Therefore we\’d better lower the pay we\’re offering to attract someone.