UK prime minister Theresa May has indicated that proposals for governance reform in the UK will be published later this year.
In June, shortly before becoming prime minister, May gave a speech outlining the need for reform of executive pay and proposed placing employee representatives on company boards.
Both the Financial Times and Reuters report that May revealed her intention to publish detailed proposals while speaking to press at the G20 Summit in China on Sunday.
The FT quotes May saying there needed to be “bold action” in the UK and “collective action abroad”.
Last week a report released by the High Pay Centre, written by Tory MP Chris Philp, outlined proposals that would see the creation of shareholder committees to advise company boards. Philp suggests non-voting employee representatives would attend the committee and that the shareholder body would replace nominations committees.
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