The outgoing RIBA president has set up a panel to consider the possibility of paying his successors

Sunand Prasad, who hands over to Ruth Reed next week, announced the proposal in an interview with Building published this week. The panel will be led by Frank Duffy, founder of design consultant DEGW.

Prasad said “some kind of compensation scheme” was needed to ensure a good calibre of candidates for Reed’s successor, due to be selected next summer. He said: “People like me, later in their careers, can probably do it, or sole practitioners like Ruth, but we are losing out on the fortysomethings in the ascendant of their careers, who simply cannot afford to do it.”

Only one other candidate, Andrew Hanson, ran against Reed in the 2008 election. A third, Paul Davis, dropped out during the race, claiming the role would be “too much of a commitment”.

Prasad said any form of payment would first have to be approved by the RIBA members and council, and that it was unlikely to be a “formidable amount”. The RIBA said the group would report in the new few months.