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HSBC Faces Investor Criticism Over Pay

May 31, 2003|From Bloomberg News

HSBC Holdings met with shareholder criticism at its annual meeting in London over the pay of William Aldinger, head of its U.S. consumer finance business.

Aldinger, chief executive of Household International Inc. when HSBC bought the company in March, got $20.3 million in severance for the termination of his contract. He will earn about $36 million in the next three years as head of all of HSBC's U.S. businesses.

HSBC shares fell 21 cents to $59.27 on the NYSE.

From Bloomberg News

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