Jeremy Corbyn, leader of the UK’s opposition Labour Party has outlined his party’s agenda for governance reform focusing on CEO pay ratios. In a speech in Peterborough last week (10th January) Corbyn added his voice to the current debate surrounding Theresa May’s governance green paper proposals. Billed as a new year message about what Labour would be […]
Read MoreResearch commissioned by CFA UK has examined the alignment of chief executive (CEO) pay and company value creation between 2003-2014/15 and found that total pay for the median CEO increased by 82% in real terms over the period. However, the median FTSE-350 company generated little in the way of a meaningful economic profit over the period […]
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Investment giant, BlackRock, has indicated it will be toughening its stance on executive pay after giving evidence to the House of Commons’ Business, Energy and Industrial Strategy (BEIS) select committee. In future it will now hold remuneration committee chairmen to account for the decisions they have made; a move which Manifest recommended to the Committee at the […]
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Shareholders of Australian companies are showing their muscle in this year’s proxy season with significant opposition votes over the governance of retailer Harvey Norman and a rejection of executive pay at the Commonwealth Bank of Australia. The Australian Shareholders Association has called on the chairman of Harvey Norman, Gerry Harvey, to resign and for an independent non-executive […]
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Huge response to BEIS Select Committee The UK’s Parliament’s Business, Energy and Industrial Strategy (BEIS) select committee has reported a larger than usual response to its request for written submissions to its corporate governance inquiry. Responses by the main industry bodies and interest groups, firms – including Manifest – together with individual submissions from academics […]
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 TUC has claimed that it took the the UK’s highest paid chief executive (CEO), Martin Sorrell, less than 45 minutes to earn what an average UK worker earns over an entire year, following its analysis published at its annual congress held this week. Sorrell, the CEO of WPP, was paid £70 million in 2015, which according to […]
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 […]
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