Outrage over executive pay deals

EXECUTIVES at HSBC Holdings Plc, Europe's largest bank by market value, and food retailer Tesco may be next to face outrage from their shareholders for being paid too much, investors said.

GlaxoSmithKline Plc became the first major British company to have its compensation plan rejected by investors. The proposal was to pay chief executive officer Jean-Pierre Garnier as much as $28 million if he were fired.

Pension & Investments Research Consultants Ltd., whose members oversee more than close to €1 billion of assets, says HSBC director William Aldinger has "one of the most lucrative contracts ever seen in the UK."