HSBC board earns almost £1mn more despite botched chair search

HSBC's board of non-executive directors has seen an increase in fees amounting to nearly £1 million, despite facing criticism from shareholders regarding a problematic succession process for the chair position. The rise in compensation comes at a time when stakeholders have expressed dissatisfaction with the handling of the chair search, raising concerns about governance and accountability within the bank. This situation highlights the ongoing tension between executive compensation and shareholder interests, particularly in light of the perceived mismanagement of leadership transitions. The increase in fees may further exacerbate shareholder frustrations as they seek greater transparency and effectiveness in the bank's governance practices.

• HSBC board fees increased by nearly £1 million.
• Shareholders criticize the chair succession process.
• Concerns raised about governance and accountability.
• Tension between executive pay and shareholder interests.
• Call for greater transparency in leadership transitions.