Francois Hollande may introduce binding shareholder votes on executive pay following Renault boss’s payout.
French president Francois Hollande has warned he may make shareholder votes on executive pay binding, according to Reuters.
His statement comes in response to Renault’s board deciding to ignore a shareholder vote against a €7.2m package for the company’s chief executive Carlos Ghosn.
Hollande is quoted speaking on France’s Europe 1 radio station, saying that if a code of conduct on pay is not applied, “there may be consequences".
Reuters reports a corporate governance council made up of executives and the Medef employers'
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