Peanut Watch: Vodafone CEO lands Bank of England post

Peanut Watch
Originally uploaded by governancefocus.

Arun Arin is joining the Bank of England Board as a Non-Executive Director for a three year term and he will be paid Pounds 5,000 per year.

While I understand that he does not need the money and the prestige of being on the Bank of England Board as a Non-Executive Director is significant, we need to change the culture of paying peanuts to non-executive directors.

Companies need to have quality and independant non-execs and they need to be compensated accordingly.

The Bank of England should take the lead and show market how to do it.

Come on Governor, you can afford it!

OAM

Related links:
Vodafone CEO lands Bank of England post
What is the right price for a Non-Executive Director?