25.07.2012
By Simon Miller
Barclays head of its remuneration committee Alison Carnwath has resigned for personal reasons, the bank announced today.
In a statement, Barclays said the non-executive director had resigned for personal reasons with effect from 24 July 2012.
Carnwarth stated: "With regret I have concluded that I am no longer able to devote sufficient time to my role as a Director of Barclays given my other commitments. I would like to thank my colleagues on the Board for their support and I wish Barclays continuing success in the future."
Her resignation comes after a shareholder rebellion over her committee's pay awards at the Barclays AGM in April.
The Wall Street Journal reported in May that she had failed to win an argument against the award of a £2.7m to the then chief executive Bob Diamond but got a compromise where Diamond and finance director Chris Lucas' annual bonuses would only be paid in full if Barclays met certain equity targets.
However, at the AGM 27% of shareholders voted against the remuneration committee's pay awards while 21% of shareholders voted against reappointing her to the board.
Barclays chairman Marcus Agius commented: "I would like to thank Alison for her contribution to Barclays since joining the Board in August 2010. We wish her well for the future."
Other stories you may find of interest:
Diamond accuses committee of damaging his reputation
Former Barclays chief executive Bob Diamond has written to the head of the Treasury Select Committee Andrew Tyrie accusing the committee of damaging his reputation.
Agius: Diamond will not get £20m
Former Barclays chief executive Bob Diamond is to give back half his salary, the bank's chairman said today.
