Carnwath walks the plank at Barclays

Alison Carnwath, the chair of the remuneration committee at Barclays, has resigned from the board of the controversial British bank.

Citing "personal reasons", Carnwatch has given up here role as a non-executive director of Barclays. "With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments," Carnwath said.

Carnwath felt the wrath of shareholders at this year's Barclays annual general meeting, as she was head of the committee which sanctioned what many regarded as overly generous pay deals for the Barclays top brass, including Bob Diamond, who subsequently resigned over the LIBOR scandal.

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Ironically, Carnwath herself was said to be opposed to the payment of a £2.7m bonus to Diamond but was overruled by her fellow committee members.

Just under 32% of Barclays' shareholders voted against the Barclays remuneration report this year, a level of dissent virtually unheard of in previous years but not that unusual this year, as shareholders put their foot down over their money being distributed with a perceived undue amount of largess to executives.

JH