If executive pay is to be brought under control, a different approach will be needed for remuneration committees and strategic planning.
When publishing the corporate governance reform green paper in 2016, UK prime minister Theresa May described the UK as an “established international leader in corporate governance”.
Finalising the reforms the following summer, business secretary Greg Clark echoed his boss, stating that “our standards of corporate governance have long been admired around the world”.
And then Stephen Hadrill, chief executive of the Financial Reporting Council, which oversees the implementation of the UK Corporate Governance Code, followed up by citing “the UK’s deserved reputation for good corporate governance”.
That policymakers and regu
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