New ING chief zero salary until 2010

Friday 13 February 2009

The new CEO of troubled financial services concern ING, Jan Hommen, has agreed to postpone the payment of his salary to next year, reports Friday's Volkskrant.

A new salary policy will be decided by the supervisory board in 2010 and this will then be applied to Hommen and backdated to cover this year, the paper says, quoting an ING spokesman.

ING has received government aid twice in recent months. Part of the conditions for state support is the scrapping of bonuses for members of the executive board in 2008 and 2009 and the development of a new salary structure.

© DutchNews.nl

Comments have been closed for this article.