Updated: Ex-Lloyds' boss Daniels to pay back £580k


Eric Daniels, Lloyds' former chief executive, will lose £580,000 or 40% of the 2010 bonus he was due to be awarded in deferred shares.

Daniels is taking the biggest hit with four other directors set to lose around 25% of their awards and all other members of the group executive committee to give up 5% of their 2010 bonues. Lloyds said: "The bonus pool for 2011 will reflect a further reduction in respect of the above mentioned provision, which will affect all individuals eligible to be considered for a discretionary bonus for that year. "The Board wishes to emphasise that its decision is based entirely on the principle of 'accountability'and in no way on culpability or wrong-doing by the individuals concerned." The...

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