Only 36 FTSE 100 companies cut CEO pay as a result of the pandemic, while the median FTSE 100 CEO pay package fell by 0.5% in 2019.
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Despite widespread reports of Covid-19 prompting a rethink on executive pay, fresh research suggests the pandemic has had only a passing effect.
A new report concludes that only 36 companies in the FTSE 100 announced cuts to executive pay as a result of the crisis but these were “mainly superficial or short term”.
Conducted by think tank the High Pay Centre and HR body the CIPD, the report also finds that median chief executive pay in 2019 fell 0.5% on 2018. Median pay is now £3.6m for FTSE 100 chief executives, 119 times that of the average British worker.
According to the report, high pay levels are particularly “controversi
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