Sedgwick defends Schroder's pay-out to Dobson

Peter Sedgwick, chairman of Schroder Investment Management, has defended his company's decision to award a hefty remuneration package to new chief executive Michael Dobson.

Dobson has been awarded share options that will be worth £3.5m (€5.6m) if Schroders' share price doubles in the next five years, as well as annual remuneration of £3.5m every year to December 2004.

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