Submitted on Friday 14th June 2013
Published on Monday 17th June 2013
Current status: Closed
Closed: Monday 17th March 2014
Signatures: 1
Tagged with
To allow Stephen Hester to choose the date of his own departure from RBS Group
'Hester, for all the legitimate criticism over pay and bonuses at RBS, has struck many outsiders as a decent man doing a tricky job in an ugly industry. He is a long way from fitting the caricature of a fat-cat banker.'
Nils Pratley. The Guardian.
The removal of Stephen Hester as Chief executive is bad business & bad politics because:
- He is respected and admired by his 126,000 staff
- He is a 'decent man' (see above) in an industry in need of them
- His has returned the bank to profit
He is RBSG's best chance of success, therefore, he is the British publics best chance of a decent return on its investment.
He should be allowed to leave on his own terms; i.e. when he has lead the organisation through a successful re-privitsation.
As the majority shareholder the government should exercise its right to overturn the boards decision to compel Stephen Hester to commit to a specified tenure and accept he has earned the right to decide the point of his own departure.
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