Rewarding failure

A sign of the times. From the Guardian....

The boss of BT's corporate IT operation, where a dire performance has forced the telecoms company to axe 15,000 jobs and slash its dividend, pocketed more than £3.5m in his last year, reigniting the furore over rewards for failure.

The award for François Barrault was branded as "outrageous" by union leaders and has forced BT to introduce a clawback scheme designed to prevent any director collecting a huge payout, despite the poor performance of their business, in the future.

Barrault was ousted in October last year as the dreadful performance of his business led to a monumental profit warning by BT. The company attempted to prevent him collecting his cash and shares but after taking legal advice was forced to admit that his contract allowed the payout.