Previous banker Sir Tom McKillop has been given a new £54,000-a-year job.
The past chairman of RBS, Sir Tom has come back to thepharmaceutical industry, which he worked for many years and how he earned his knighthood in 2002.
Sir Tom will sit beside a Belgian prince and other European luminaries on the board of directors for pharmaceutical giant UCB, after taking up his position at an astonishing general meeting on 6 November.
As chairman of RBS, Sir Tom watched over the lead-up to the major corporate failure in UK history, and even apologized to a House of Commons Treasury select committee for RBS’s failure. He also come out about having no qualifications in banking.
The panel of directors for UCB – including Prince Lorenz of Belgium – met just seven times in 2008, and Sir Tom will be salaried £900 for each meeting he attends this year, on top of a base pay of £54,000.
A spokeswoman for the firm was reported as saying that Sir Tom was selected for his “great knowledge in the pharmaceutical world”.
