Singapore’s leading corporate group DBS on Wednesday announced that it has reduced Chief Executive Officer Piyush Gupta’s variable pay by 30% due to the digital disruptions experienced by the bank’s customers in 2023. As part of its quarterly earnings statement, DBS disclosed that this reduction amounted to 4.14 million Singaporean dollars (USD 3.08 million). The CEO and other members of the group management committee collectively took a 21% reduction in their variable pay, as reported by Channel News Asia.