A judge has ruled in favour of a small Tesla shareholder, voiding Elon Musk’s $56 billion pay package and calling it “unfair” to shareholders.
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UK supermarket chain Tesco faces its first equal pay claims that could add an extra 4 billion to its wage bill. The action has been brought by law firm Leigh Day, which said it had started submitting claims on behalf of its clients through ACAS, which is the first stage in the Employment Tribunal process. Leigh Day said […]
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In its annual review of the pay of FTSE 100 chief executives and average UK employees the High Pay Centre, now working with the Chartered Institute of Personnel and Development (CIPD), found that by 4th January, dubbed Fat Cat Thursday, the UK’s top bosses made more money than the typical UK full-time worker will earn in […]
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Independent investors in media group Sky voted heavily against the remuneration report with just 36% of shareholders giving it their backing at the AGM this week (12th October). Chairman James Murdoch received a narrow vote in support of his re-election amid concerns about his lack of independence. Manifest’s pre-AGM analysis of Sky’s executive remuneration gave […]
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Financial exchange group Deutsche Börse has introduced a cap on the total remuneration of its executive board members. The company said the decision to introduce the cap was taking at its supervisory board meeting this week and was part of the continuing development of its executive board remuneration system. The annual remuneration of the executive board, including […]
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The UK government has signalled that it will taking a shareholder and stakeholder market-based approach to governance reform rather than introducing more rules on executive pay. According to early briefings reported in the on Financial Times (FT) and Daily Telegraph he government’s response to the consultation on its corporate governance paper green paper, will published next […]
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Demand for CEO pay ratios has increased with initiatives in the US and UK focusing on the discrepancies between director and employee pay and the need for more regulation. US Democratic Senator Bob Menendez and eight other senators have written to Michael Piwowar, chairman of the Securities and Exchange Commission, to urge him to implement […]
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WPP, whose chief executive Sir Martin Sorrell last year caused headlines for a £70m pay package, has announced its final investment performance figures for its controversial long term incentive scheme, LEAP. The WPP figures show that Sir Martin Sorrell would receive £41.5m from the LEAP scheme for 2016 – compared with their value of 20.69m when the shares […]
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Travel company, Thomas Cook received a warning on pay this week at its AGM when the voting results showed that some investors at starting to take a joined up approach to remuneration-related voting. This is a signal to all companies seeking approval for their remuneration policies and new incentive plans this year that shareholders do not […]
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The US Securities and Exchange Commission (SEC) is seeking comments from companies are encountering as they look to comply with the CEO Pay Ratio disclosure rule which took effect for financial years from 1st January 2017. The rule, hotly debated by business and investors alike, requests companies to disclose the ratio of the median of the annual […]
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