UK fund managers members take executive pay reform seriously according to the UK’s Investment Association, which this week responded to the recommendations of the Executive Remuneration Working Group. In its new Principles of Remuneration, the IA suggests that rather than opting for the default Salary/Bonus/Long Term Incentive Plan (LTIP) pay structure, firms should consider pay structures which fit their business and […]
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Australian entertainments group, Ardent Leisure, held its AGM just two days after an accident at its theme park Dreamworld in which four people died and two children were injured on a river rapids ride. The out-going chairman, Neil Banaves, offered sincere condolences to the victims and their families but said that despite the seriousness of the incident they were still required to convene the AGM […]
Read MoreUK investment campaign group ShareAction has urged investors to use the binding votes on remuneration policy at BP and Shell in 2017 to ensure the oil majors can demonstrate their commercial strategies are aligned with a move to a low carbon economy. In an investor briefing ShareAction said it believes shareholders should engage with the companies to ensure […]
Read MoreThe House of Commons’ Business, Innovation, and Skills (BIS) Committee has launched an inquiry on corporate governance, focussing on executive pay, directors duties, and the composition of boardrooms, including worker representation and gender balance in executive positions. This follows the committee’s inquiries into the corporate collapse of retailer, BHS, and the working practices at Sports Direct […]
Read MoreThe UK has the second-least meritocratic bonus system in the world, according to a global poll of 6,500 financial decision makers carried out by the Chartered Institute of Management Accountants (CIMA). The organisation is calling for bonus systems to be designed to encourage long-term success rather than only short-term performance. The main concern expressed by […]
Read MorePrime Minister Theresa May, speaking at the end of her first G20 summit held in Hangzhou, China, pledged to bring forward a consultation paper this autumn suggesting reforms to corporate governance at UK companies. This indicates that May will be taking action on issues she first raised at the start of her campaign to stand as Conservative Party […]
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ShareSoc, which represents individual shareholders in the UK, is advising its members to vote against the remuneration report of house builder Berkeley Group at its AGM on 6th September. Tony Pidgley, co-founder and executive chairman, of Berkeley, received £21m in the financial year ending 2016 and £23m in the previous year. This total pay figure […]
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The UK’s GC100 and Investor Group – made up of top general counsel, company secretaries and corporate governance heads at fund manager groups – has published its latest remuneration reporting guidance replacing the original version which was produced following the updating of pay disclosure regulations in 2013 which included the introduction of binding remuneration policies approved at least […]
Read MoreThe Executive Remuneration Working Group, supported by the UK’s Investment Association, has produced 10 recommendations aimed at regaining the public’s trust on executive pay, simplifying the pay structures of top company bosses and improving the alignment of their interests with those of their shareholders in its recently published final report. Chair of the Executive Remuneration Working Group, […]
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While regulation on directors’ pay can be counter-productive the business community needs to address the concerns of politicians and the wider public about pay inequality in the UK, advisors PricewaterhouseCoopers (PwC) have warned in a report. This is a response to Teresa May’s pledge to tighten up executive pay regulation made just before she became Prime Minister and reported on […]
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