A new report calls for shareholder committees, attended by employees, to rule on executive pay and replace nominations committees.
The high ratio of chief executive to employee pay is “a failure of governance”, according to Tory MP Chris Philp, who argues in a new report that the answer is Swedish-style shareholder committees.
Philp has stepped into the debate on executive remuneration in a report called Restoring Responsible Ownership, written for the High Pay Centre. His report receives the backing of City luminaries Neil Woodford, head of investment at Woodford Investment Management, and Lord Myners, former chairman of Marks & Spencer and Land Securities.
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