By Jonathan Davies
A pensions body has called for the resignation of Sir John Sunderland, chair of Barclays' pay review committee, after claims the bank has misled its shareholders.
LAPFF claims that at the 2014 AGM, Barclays told shareholders that Sir John would step down for Crawford Gillies to take his place. But Sir John is still in the role 11 months later.
The bank responded by saying it had not broken any promises, stressing that Mr Gillies would take over on 23 April.
"There has been no breach of 'promise' and nor has Barclays acted in a way which is contrary to any statement we have made," a Barclays spokesperson said.
"Barclays made clear in an RNS [official announcement] on 15 April 2014 that Crawford Gillies would be joining the Board Remuneration Committee with effect from 1 May 2014, and would succeed Sir John Sunderland as Chairman of the Board Remuneration Committee 'at a date to be agreed, consistent with ensuring a smooth transition'," the bank added in a statement.
In a strongly worded statement, LAPFF chair Kieran Quinn said: "It is inexplicable how Barclays can have gone back on its promise to the 2014 AGM that Sir John would step down.
"Having messed up remuneration for 2013 Sir John has in fact stayed on as chair and presided over another year of still unacceptably high pay for 2014, and is still in place in March 2015.
"It's nothing short of misleading shareholders."
Barclays faced huge criticism of its pay policy at the 2014 AGM.
