Aligning wider workforce pay in relation to executive remuneration should be tasked to non-executives under a revised Corporate Governance Code, suggests the Financial Reporting Council.
Business groups are largely in favour of the government’s planned law to publish pay ratios, but the TUC describes the ‘tick-box’ approach as ‘feeble’.
Large private businesses will be obliged to report on responsibility and their impact upon employees and the wider world, under the government’s follow-up on its green paper.
A second “shareholder spring” in 2016 saw more modest remuneration among the FTSE100 in 2017, but FTSE250 investors took umbrage at director salaries this time around.
Queen’s Speech lays out legislative agenda for Theresa May, but ignores corporate governance despite the issue being at the heart of the prime minister’s social justice agenda when she first came to power.
The business secretary appointed under Theresa May will continue in post where one of his main roles will be pushing through reforms to corporate governance.
Theresa May announced a fresh election yesterday, casting uncertainty on when the UK’s companies will see reforms to corporate governance.
Shareholder body calls for the introduction of formal shareholder committees to make engagement a “more professional and systematic process”.
Financial Reporting Council will review UK Corporate Governance Code once outcome of government’s own reform consultation is complete.
Transparency, alignment and the impact on employees are all considerations when forming an approach to rising levels of executive pay.