Christmas is a time for giving. Now one American boss with a conscience has made it a time for giving back. The aptly named Rick Holley, chief executive of Plum Creek Timber, is returning a bonus worth nearly $2 million because he believes he does not deserve it.
In a filing with the US Securities and Exchange Commission, the Seattle-based real estate investment trust said that Mr Holley, right, had “elected to return the restricted stock units because he does not believe that he should receive such an award unless Plum Creek’s stockholders see an increase in their investment return”.
The award, which was granted in February and would have vested fully on February 3, 2017, was intended as an incentive for Mr Holley to