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Posted AT 6:00 AM EST on 05/08/08

Clamour grows to rein in rich CEO payouts

BARRIE MCKENNA

Globe and Mail Update

Huntington Bancshares Inc. chief executive officer Thomas Hoaglin made a surprisingly blunt confession when he wrote to shareholders to explain the bank's dismal 2007 results. “I did not deserve an annual cash incentive and did not receive one,” Mr. Hoaglin acknowledged this spring, lamenting an 84-per-cent plunge in the Ohio bank's profit. The juxtaposition of inflated pay packages and the mortgage implosion has put U.S.

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