Former British Gas boss criticised for ‘lavish’ windfalls put in charge of pay at HSBC

‘A former British Gas boss criticised for his ‘lavish’ windfalls has been put in charge of pay at HSBC, writes Peter Campbell.

Sam Laidlaw, who sits on the bank’s board, received up to £5m a year at energy giant Centrica.
But he is now being put in charge of setting pay levels at the embattled banking giant following a major boardroom reshuffle.

Critics said the decision beggars belief and reinforces images of a ‘cosy club’ of executives who set rewards packages for each other. Laidlaw replaces Sir Simon Robertson as chairman of the remuneration and nomination committees.’

Read more: Former British Gas boss criticised for 'lavish' windfalls put in charge of pay at HSBC