Dutch bank CEO's pay rise sparks outrage among lawmakers
Mar 8, 2018
Dutch lawmakers are expressing outrage that the CEO of a bank that was bailed out with taxpayer money during the financial crisis has been awarded a new salary they say amounts to a 50-percent pay rise
THE HAGUE, Netherlands — Dutch lawmakers are expressing outrage that the CEO of a bank that was bailed out with taxpayer money during the financial crisis has been awarded a new salary they say amounts to a 50-percent pay rise.
The ING bank published details Thursday of the new salary package of CEO Ralph Hamers that show that on top of a 2.2 percent pay rise for 2018, he also will receive shares worth 50 percent of his salary.
The bank says the new pay structure "is completely in line with the principles of the Netherlands' corporate governance code."
In a tweet, Green Left party leader Jesse Klaver asks, "What universe are the top of ING living in?"
The Dutch government spent billions bailing out ING in 2008, money the bank has paid back.
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