Median pay dropped from £4m to £3.4m in 2018 as companies bow to shareholder pressure on remuneration policy, according to research from Deloitte.
Commons committee report says the new Audit, Reporting and Governance Authority should be given the tools to clamp down on companies that “behave unreasonably on executive pay”.
Boards of banks face an increasingly broad array of responsibilities when managing foreign subsidiaries, ensuring the parent company has control and oversight without sacrificing independence or creating a culture of complacency.
Speedy Hire gets a new chairman; and BTG’s new remuneration committee chair will have interesting discussions ahead, as a tranche of shareholders vote against recent remuneration policy.
New corporate governance code tackles independence of chairs, remuneration committee responsibilities and corporate culture.
Norges Bank Investment Management says a division of responsibilities means remuneration committees should not be overseeing company-wide pay.
Persimmon executives agree to take bonus cuts, following widespread criticism of its tens-of-million-pound payouts lined up from its non-capped 2012 long-term incentive scheme.
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.
A proposed new corporate governance code is likely to highlight boardroom responsibility for culture, and ask nomination committees to play a role in building diversity and an executive pipeline.
Investors call for remuneration committee chairmen to step down if pay policies fail to win backing of 75% of shareholders.