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Why Singapore's biggest bank has cut CEO's pay by millions
DBS Group Holdings reduced CEO Piyush Gupta's compensation by $3M after digital banking outages and a reprimand from the central bank. The pay cut represents a 30% reduction in variable pay. Despite the pay cut, DBS reported record net profit of over $10B and proposed a bonus share issue. Under Gupta’s leadership since November 2009, DBS has expanded operations in India, Taiwan, and mainland China through acquisitions and organic growth.
DBS Group Holdings reduced CEO Piyush Gupta's compensation by $3M after digital banking outages and a reprimand from the central bank. The pay cut represents a 30% reduction in variable pay. Despite the pay cut, DBS reported record net profit of over $10B and proposed a bonus share issue. Under Gupta’s leadership since November 2009, DBS has expanded operations in India, Taiwan, and mainland China through acquisitions and organic growth. 
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