Barclays CEO's £28 million 'golden goodbye'

Antony Jenkins, former Barclays CEO who was ousted from the company last week, is in line to receive payments and bonuses totalling up to £28m. According to reports. 

The sacked Chief Executive is said to have been fired because of his failure to cut costs and improve the overall performance at the bank. Despite this disappointment, Jenkins pay-out is said to include £15 million in shares, £11 million in bonuses and a £2.4 million ‘golden goodbye’, the Sunday Times report.

Having joined the firm after the Libor-rigging scandal, insiders say that Jenkins was sacked because the change wasn’t quick enough.

Barclays, the second largest bank in Britain, may not name a new CEO until early 2016. John Macfarlane, who became Chairman in April, is said to be taking over as Executive Chairman until a new successor is found.