Not a Rightmove on non-exec payments

[TrueBlueTerrier]

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Here's something you don't see everyday, a non-exec waiving his director's fee. I come across the snippet in property peddler Rightmove's annual report.

The man in question is Colin Kemp, a Lloyds Banking Group executive by day and Rightmove non-executive, well, also by day I suppose. The fee in question is £45,000.

According to Rightmove, Kemp waives his pay because Lloyds' bars employees from being paid for sitting on other company boards. Which is odd because a quick look at Lloyds boss Eric Daniels' non-exec roles reveals he's trousering £74,000 from BT while retail director Helen Weir posts a healthy £48,000 fee for turning up to 11 meetings a year at Royal Mail.

So why is poor old Colin missing out? I put the question to Lloyds spinner.

No blanket policy, I'm told but this be to do with Rightmove's previous ownership by Lloyds subsidary HBOS.
Well it could, but Rightmove was floated in 2006, Colin joined the board in 2007, and HBOS sold out in 2008. Has anyone told Colin he can now cash in?