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Pru boss's bonus 'to be paid in shares'
Prudential yesterday said chief executive Tidjane Thiam's 2010 bonus would be paid in deferred shares, rather than 50 per cent cash, after the insurer racked up big costs in a failed bid for AIA last year.
Thiam, who faced pressure to quit after the Pru's 22 billion AIA bid collapsed last June, will receive a bonus of 1.57 million in shares, deferred for three years, the UK's biggest insurer said yesterday.
His maximum entitlement was 1.62m. Thiam would ordinarily have received half the bonus in cash, but agreed to take the full amount in deferred shares, Prudential said.
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Friday 25 May 2012
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