Topic filter : Remuneration

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....News of the price rise came as Centrica reported an adjusted profit before tax of £639m for the six months to June, down from £688m a year earlier. Conn, who was handed a pay rise of nearly 40% last year, taking his remuneration package to £4. ... [Read full article on Guardian ]
Tuesday 1st of August 2017 06:50:36 AM
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.... Then, at this year’s general election, both the Conservatives and Labour campaigned – or appeared to campaign – against the economic system that they themselves had created. The Conservative manifesto attacked “aggressive asset-stripping” of British companies by foreign buyers; “perverse pricing” by privatised rail companies; “exploitative” markets in energy, property, insurance and telecommunications; and “the remuneration of some corporate leaders … [which] has risen far faster than some corporate performance”. ... [Read full article on Guardian ]
Friday 4th of August 2017 05:00:34 AM
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....The ruling means HM Revenue and Customs (HMRC) will be able to take action against both companies and employees seeking to take advantage of the “artificial and abusive” gold bullion schemes. HMRC said accountants had created schemes designed to “disguise remuneration to individuals through paying them via a series of transactions buying and selling an asset, commonly gold bullion”. ... [Read full article on Guardian ]
Monday 7th of August 2017 05:33:52 PM
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....65, which were awarded as part of Sky’s long-term incentive plan. In 2015 and 2016, Darroch’s total remuneration was £17. ... [Read full article on Guardian ]
Thursday 27th of July 2017 08:50:21 AM
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.... But this was to change a year later when Davis was appointed to the supervisory board of a German company, Mansfelder Kupfer und Messing (MKM), which describes itself as the “leading European manufacturer of primary and semi-finished products made of copper and copper alloy”. Davis listed his position – for which he “anticipated remuneration of approximately £34,000 per annum” – in the register of MPs’ interests on 10 June 2013 and disclosed that the role was for six days work a year. ... [Read full article on Guardian ]
Saturday 12th of August 2017 07:45:41 PM
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....A critical factor, as the report’s authors suggest, may have been the political climate. The government was talking about putting workers on remuneration committees, introducing annual binding votes on pay and forcing publication of pay ratios. ... [Read full article on Guardian ]
Thursday 3rd of August 2017 05:01:07 AM
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.... Blankfein was the world’s best-paid banker in 2013 and 2014. However, the average remuneration for the top 20 chief executives fell last year, the review found, to $12. ... [Read full article on Guardian ]
Monday 24th of July 2017 10:36:39 AM
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. Ordinary employees would have to work for 160 years to earn the average remuneration of FTSE 100 chief executives in 2016, according to new research. ... [Read full article on Guardian ]
Wednesday 2nd of August 2017 11:01:06 PM
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....“It’s a bit frustrating to end up always being blamed for it,” he said. Conn, who was awarded a pay rise of nearly 40% last year, taking his remuneration package to £4. ... [Read full article on Guardian ]
Tuesday 1st of August 2017 07:19:42 PM
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....At this year’s annual shareholder meeting, about 53% of independent shareholders who voted via proxy were against the reappointment of both Marks and the non-executive director Dean Murray. A higher proportion, nearly 56%, voted against the company’s remuneration policy after shareholder groups expressed concern about unclear targets. ... [Read full article on Guardian ]
Thursday 27th of July 2017 05:16:36 PM
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Latest Finance News related to Remuneration

David Davis linked to City trader fined for insider dealing image
Source : Guardian [Read Article] Saturday 12th of August 2017 07:45:41 PM
.... But this was to change a year later when Davis was appointed to the supervisory board of a German company, Mansfelder Kupfer und Messing (MKM), which describes itself as the “leading European manufacturer of primary and semi-finished products made of copper and copper alloy”. Davis listed his position – for which he “anticipated remuneration of approximately £34,000 per annum” – in the register of MPs’ interests on 10 June 2013 and disclosed that the role was for six days work a year. ...
Payment in gold bullion banned under new law to combat tax evasion image
Source : Guardian [Read Article] Monday 7th of August 2017 05:33:52 PM
....The ruling means HM Revenue and Customs (HMRC) will be able to take action against both companies and employees seeking to take advantage of the “artificial and abusive” gold bullion schemes. HMRC said accountants had created schemes designed to “disguise remuneration to individuals through paying them via a series of transactions buying and selling an asset, commonly gold bullion”. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
.... Then, at this year’s general election, both the Conservatives and Labour campaigned – or appeared to campaign – against the economic system that they themselves had created. The Conservative manifesto attacked “aggressive asset-stripping” of British companies by foreign buyers; “perverse pricing” by privatised rail companies; “exploitative” markets in energy, property, insurance and telecommunications; and “the remuneration of some corporate leaders … [which] has risen far faster than some corporate performance”. ...
Executive wages may have fallen, but the case for pay ratios is even stronger image
....A critical factor, as the report’s authors suggest, may have been the political climate. The government was talking about putting workers on remuneration committees, introducing annual binding votes on pay and forcing publication of pay ratios. ...
FTSE 100 chiefs earn 160 times the average wage, study reveals image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 11:01:06 PM
Price cap still possible, government warns energy companies image
Source : Guardian [Read Article] Tuesday 1st of August 2017 07:19:42 PM
....“It’s a bit frustrating to end up always being blamed for it,” he said. Conn, who was awarded a pay rise of nearly 40% last year, taking his remuneration package to £4. ...
British Gas raises electricity prices by 12.5% image
Source : Guardian [Read Article] Tuesday 1st of August 2017 06:50:36 AM
....News of the price rise came as Centrica reported an adjusted profit before tax of £639m for the six months to June, down from £688m a year earlier. Conn, who was handed a pay rise of nearly 40% last year, taking his remuneration package to £4. ...
Sports Direct increases French Connection stake to 27% image
Source : Guardian [Read Article] Thursday 27th of July 2017 05:16:36 PM
....At this year’s annual shareholder meeting, about 53% of independent shareholders who voted via proxy were against the reappointment of both Marks and the non-executive director Dean Murray. A higher proportion, nearly 56%, voted against the company’s remuneration policy after shareholder groups expressed concern about unclear targets. ...
Wall Street duo make $150m each on back of Trump election victory image
Source : Guardian [Read Article] Monday 24th of July 2017 10:36:39 AM
.... Blankfein was the world’s best-paid banker in 2013 and 2014. However, the average remuneration for the top 20 chief executives fell last year, the review found, to $12. ...
SSE loses 230,000 customers in 'highly competitive' UK market image
Source : Guardian [Read Article] Thursday 20th of July 2017 05:28:01 PM
....”. It was revealed last month that Phillips-Davies had been awarded a 72% pay rise, taking his remuneration to £2. ...
HBOS inquiry: the time for delays is over | Nils Pratley image
Source : Guardian [Read Article] Tuesday 18th of July 2017 06:28:07 PM
.... It’s a UK storage business. The Safestore chairman, Alan Lewis, argues the scheme is good for shareholders but concedes that “the current backdrop around executive remuneration and public sentiment is not conducive to such change. ...
Carolyn McCall to become ITV chief executive image
Source : Guardian [Read Article] Monday 17th of July 2017 06:15:51 AM
....McCall was chosen as preferred candidate at the end of last month. ITV said her total remuneration would be “broadly the same” as Crozier, who earned about £27m over his seven years in charge. ...
Governments have to invest in the fourth industrial revolution | Larry Elliott image
.... They own 40% of the US stock market and benefit from the dividend payouts, and the share buybacks that drive prices higher on Wall Street. Those running companies, also members of the 1%, have remuneration packages loaded up with stock options, so they too get richer as the company share price goes up. ...
ITV closes in on naming easyJet's Carolyn McCall as CEO image
Source : Guardian [Read Article] Friday 14th of July 2017 04:47:41 PM
....It is not known if James is still involved in the process but numerous sources believe McCall is poised to be declared the chief of the UK’s biggest free-to-air commercial broadcaster. However, it is understood that ITV has been locked in tricky negotiations to persuade McCall to take the role, with her remuneration package thought to be a major sticking point. ...
Post-Brexit London is open for business (no matter how grubby) image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:21:05 PM
....It is astonishing that Soriot and his employer left this question hanging in the air all day on Thursday. Israeli newspaper Calcalist reported on Wednesday that Soriot is about to quit to join Israeli outfit Teva Pharmaceuticals and seemed confident about the details of his new remuneration package, down to the signing-on fee of $20m. ...
One in three Burberry shareholders revolt against executive pay deal image
Source : Guardian [Read Article] Thursday 13th of July 2017 03:37:20 PM
. A third of Burberry’s shareholders have failed to back the luxury brand’s remuneration report in a protest over high pay. ...
Gig economy: there's an easy way to end abusive working conditions image
Source : Guardian [Read Article] Thursday 6th of July 2017 09:00:07 PM
.... The title seems to be easier to gain than lose. Former finance director Carol Fairweather left in January but will enjoy her discount until the end of March next year, says the remuneration report, “or later, if the committee so determines”. ...
Sir Owen Green obituary image
Source : Guardian [Read Article] Wednesday 5th of July 2017 02:14:17 PM
....” He suggested that such executives had lost touch with the people who actually did the work, and pointed out that, in many cases, executive pay and perks went up regardless of whether a company’s shares rose or fell. At that time, when some company chiefs were counting their packages in millions, Green’s own remuneration was £217,000 – modest indeed for a company turning in profits of more than a billion pounds annually. ...
Rupert Murdoch's Sky bid is now very likely to succeed image
Source : Guardian [Read Article] Thursday 29th of June 2017 03:01:16 PM
.... For Burberry, and chairman Sir John Peace, the danger is real. In 2014, 53% of shareholders voted against a remuneration report that included a £15m award of shares to chief executive Christopher Bailey. ...
Hinkley Point C: watchdog confirms fears of political vanity project | Nils Pratley image
.... That’s entirely fair: she’s leaving a job half-done at Halfords by quitting 18 months into a three-year plan. But the episode also demonstrates the nonsense of companies’ claims that they need to pay all-singing, all-dancing remuneration packages to “recruit and retain” top executives. ...
Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley image
....In an undistinguished field, SSE is one of the more transparent and progressively minded energy companies. But they can all be relied upon to trip themselves up on remuneration. ...
SSE boss gets 72% pay rise weeks after arguing against cap on bills image
Source : Guardian [Read Article] Friday 16th of June 2017 05:24:56 PM
....SSE defended his pay increase, which was revealed in the company’s annual report on Friday. “We recognise executives are paid substantial sums in line with their responsibilities, but at SSE executive remuneration is strongly linked to performance and length of service and the company has been and always will be disciplined in its approach to pay. ...
Tesco says price rises are last resort as UK growth hits seven-year high image
.... The company’s annual report also revealed it had paid £142,000 in stamp duty and legal fees to help Lewis buy a house closer to its headquarters in Hertfordshire. Pensions and Investment Research Consultants, a corporate governance lobby group, took a dim view of the relocation costs and has urged investors to vote against the remuneration report. ...
More than half of Morrisons investors rebel over executive pay image
Source : Guardian [Read Article] Thursday 15th of June 2017 06:21:25 PM
....More than half of Morrisons shareholders have failed to back the supermarket’s bosses’ pay package in a massive protest vote. Investors representing 48% of its shares voted against the company’s remuneration report, rising to 51% with abstentions, as Morrisons held its annual shareholder meeting at its HQ in Bradford on Thursday. ...
Morrisons' indignation over shareholder rebellion is misplaced | Nils Pratley image
. When 48% of shareholders rebel against a company’s remuneration report, most chairmen scuttle into the shadows muttering empty words about seeking further engagement with investors. ...
WPP boss £48m pay voted against by a fifth of investors image
Source : BBC [Read Article] Wednesday 7th of June 2017 02:46:21 PM
....She said: "Executive pay at WPP continues to look excessive. "Whilst we acknowledge that the reduction in the total long term bonuses and incentives available to executives under the new remuneration policy is a step in the right direction, the sheer scale of these remains exceptionally high, at over nine times the salary for the CEO. ...
Relieved RBS bosses should spare a thought for the claimaints image
Source : Guardian [Read Article] Wednesday 7th of June 2017 02:27:31 PM
....For Santander shareholders, the critical piece of information is the one they will not get: did Botín jump to buy Popular, or was she pushed by the banking authorities?. At most FTSE 100 companies, a 21% vote against the remuneration report would be a cause of embarrassment. ...
More than a fifth of WPP investors reject Sorrell’s £48m pay package image
Source : Guardian [Read Article] Wednesday 7th of June 2017 11:58:17 AM
.... In 2012, nearly 60% of investors rejected his pay packet, one of the biggest shareholder revolts. “We are highly uncomfortable with the 2016 quantum, not least in light of our historic concerns about board composition and the remuneration committee’s apparent lack of vigour and stress-testing when the legacy plan was devised,” said Hans Christoph-Hirt of Hermes, which represents investors holding just over 1% of voting rights in WPP. ...
Burberry's Bailey to get £10.5m in shares when he checks out as CEO image
Source : Guardian [Read Article] Tuesday 6th of June 2017 05:35:18 PM
.... Bailey could have received a maximum of 125,000 shares from that particular award, but is instead receiving 77,000 after the performance of the company was taken into account. In 2014 the company had endured a bruising annual meeting with its shareholders, who voted against its remuneration report to protest about Bailey’s pay. ...
Church of England made stunning 17% return on investments in 2016 image
Source : Guardian [Read Article] Sunday 21st of May 2017 01:08:44 PM
....7m to the mission of the Church of England, although it admitted this was “only around 15% of the church’s overall income – most funding comes from the extraordinary generosity of parishioners”. The body said it had also been promoting responsible investment, including being “instrumental in filing climate disclosure resolutions at [mining groups] Anglo American, Glencore and Rio Tinto” and continuing “to vote against the majority of remuneration reports”. ...
Shell shareholders to vote for new climate change goals image
Source : Guardian [Read Article] Sunday 21st of May 2017 10:38:07 AM
....”. Separately, the UK-based investment group Pensions & Investment Research Consultants (Pirc), which represents around 1% of shareholders, has urged investors to reject both the directors’ pay last year and Shell’s future remuneration policy. ...
'Commit to your challenging job or quit' – our work expert responds image
Source : Guardian [Read Article] Saturday 20th of May 2017 06:00:17 AM
.... I have been awarded either a bonus or a pay rise every year since I joined in 2011. There is no other route to such remuneration. ...
BP shareholders urged to reject chief's £9m pay package image
Source : Guardian [Read Article] Monday 15th of May 2017 09:12:53 AM
....The group added that a green light would lock in a pay policy at a “critical” time for addressing climate change, as 2020 is seen as the last year by which carbon emissions must peak for the world to be likely to keep temperature rises below 2C. The Church of England, which has BP in the top holdings of its £9bn funds, said it would be voting against both Dudley’s pay and the remuneration policy. ...
Can my employer stop giving annual pay rises and bonuses? image
Source : Guardian [Read Article] Monday 15th of May 2017 06:00:37 AM
.... I have had a bonus or a pay rise every year since I joined the organisation in 2011. There is no other route to such remuneration. ...
Tesco chief executive Dave Lewis sees pay fall 10% image
Source : BBC [Read Article] Friday 12th of May 2017 02:48:01 PM
....28bn. The head of the supermarket's remuneration committee, Deanna Oppenheimer, said: ''Tesco has had a strong year of progress, delivering against the three turnaround priorities of improving competitiveness in the UK, a more secure balance sheet and rebuilding trust, which were set in 2014. ...
Tesco boss's bonus cut despite first sales growth in seven years image
Source : Guardian [Read Article] Friday 12th of May 2017 07:21:20 AM
....25m, and stays the same for the year ahead. The retailer’s remuneration committee, which decides how much top executives should be paid, said the level of bonus paid to Lewis was based on how far he had met the “stretching” targets set for the year. ...
BT deserves credit – clawing back boss's bonus is common sense | Nils Pratley image
....Credit where it’s due. After the accounting catastrophe in Italy and a big fine from Ofcom for overcharging for broadband access on the home front, BT’s remuneration committee has done the decent thing. ...
BT chief's pay package slashed by £4m over Italian accounting scandal image
.... ”. Tony Ball, the former boss of Sky TV and chairman of BT’s remuneration committee, said the Italian scandal was not the only reason bonuses were withheld. ...
Barclays chief apologises to shareholders over whistleblowing incident image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:26:33 PM
.... Asked about remarks by Labour leader Jeremy Corbyn describing bankers as “greedy”, McFarlane retorted that it “was well known that politicians have impeccable judgment on all matters”. Two votes on the bank’s remuneration report and policy were easily passed, although changes to the long-term incentive plan failed to secure the support of 15% of investors. ...
Barclays boss sees off shareholder rebellion image
Source : BBC [Read Article] Wednesday 10th of May 2017 07:04:15 AM
....More than 97% of shareholders who cast votes also approved Barclays' pay plans for top executives, despite earlier objections from some shareholders. Corporate governance body Pirc, which advises many of the largest institutional investors, had advised investors to vote against the bank's remuneration report. ...
Investors should get a bigger say on executive pay, says IoD image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:25:49 AM
....The government should give investors a bigger say in executive pay in the UK’s biggest companies, directors have urged. The Institute of Directors said that if 30% of investors oppose a directors’ remuneration report at an annual meeting, the company should have another look at its pay policy and allow shareholders a second vote. ...
IoD: Investors need bigger say in executive pay image
Source : BBC [Read Article] Tuesday 9th of May 2017 11:14:54 PM
....". At present, shareholders have a binding vote on future remuneration policy once every three years. ...
Apple can’t just make iPhones for ever. What’s next? image
Source : Guardian [Read Article] Sunday 7th of May 2017 06:00:25 AM
.... The share price, even after the bounce that accompanied the unveiling of yet another restructuring plan, has halved in little more than two years. Fallon is correct that the remuneration committee sets his pay. ...
'Your job is affecting your health and relationships' – our work expert responds image
....I have a son at university and a daughter in secondary school, and the plan was to go on to 62 (another three years). But an opportunity has arisen to work on a number of different projects outside education and I know I would enjoy these despite the poor remuneration. ...
Pearson shareholders reject chief executive's £1.5m pay package image
Source : Guardian [Read Article] Friday 5th of May 2017 01:32:23 PM
....6bn. Disgruntled investors expressed their anger at the company’s annual general meeting in London on Friday, with 61% voting to reject the remuneration report and nearly 7% abstaining in the non-binding vote. ...
TV's got talent: top jobs in UK broadcasting up for grabs image
Source : Guardian [Read Article] Thursday 4th of May 2017 06:29:22 AM
....All told, the British TV industry is entering an unprecedented period of senior management upheaval, at a time when traditional broadcasters face ever increasing competition for viewers and revenue from digital interlopers including Netflix, Amazon, Google and Facebook. The next generation of leaders will be polishing their CVs and awaiting the headhunter’s call in this latest round of executive suite musical chairs, eying up jobs with annual remuneration ranging from BBC director general Tony Hall’s £455,000, to the £4. ...
ITV chief executive Adam Crozier steps down after seven years image
Source : Guardian [Read Article] Wednesday 3rd of May 2017 06:25:36 AM
....He has received more than £27m in pay, bonus and incentive payouts during his tenure, while overseeing a recovery in ITV’s share price from about 17p in the months before he joined to more than 200p now. Crozier holds 2m shares in ITV, worth close to £4m at the broadcaster’s current share price, built up as part of his remuneration awards. ...
BP profits helped by higher oil prices image
Source : BBC [Read Article] Tuesday 2nd of May 2017 06:22:12 AM
....Its annual report showed Mr Dudley's pay was reduced to $11. 6m as it looked to head off a repeat of last year's shareholder revolt against his remuneration. ...
Theresa May promised to tackle greedy bosses – instead she’s helping them | Polly Toynbee image
.... This is the comical charade of governance, a half day’s embarrassment. When it comes to voting on top executives’ remuneration, those in the room press little buttons, then up on the screen comes the total of all institutional shareholders: result – 8,885,701,000 votes, or 96%, gifting Gulliver his £8m. ...
I want to retire from teaching, but my wife won't hear of it image
Source : Guardian [Read Article] Monday 1st of May 2017 06:00:21 AM
....I have a son at university and a daughter in secondary school, and the plan was to go on until 62 (three years’ time). An opportunity has arisen to work on a number of projects outside education and I know I would enjoy these despite the poor remuneration. ...
Martin Sorrell and the sunset of the superstar chief executives image
Source : Guardian [Read Article] Saturday 29th of April 2017 03:00:02 PM
....A change in attitude to corporate pay from the public and investors – and more recently Theresa May’s warning that she would curb boardroom excess – has started to loosen Sorrell’s once unquestioned control. A series of investor rebellions against his pay (the biggest being in 2012, during the “shareholder spring”, when 60% of investors rejected his annual pay package) has forced WPP’s board to cut his remuneration dramatically. ...
Sir Martin Sorrell's pay package plunges from £70m to £48m image
Source : Guardian [Read Article] Friday 28th of April 2017 10:22:43 AM
. Sir Martin Sorrell received £48m in remuneration last year as WPP, the marketing and advertising company he founded and runs, moved to curb the level of his future payouts to avoid further clashes with investors. ...
WPP to cut Sir Martin Sorrell's pay to £15m in bid to calm investors image
Source : Guardian [Read Article] Thursday 27th of April 2017 08:05:41 PM
. Sir Martin Sorrell, Britain’s best-paid chief executive, is to take a pay cut in an effort to avert a clash with investors over the scale of his remuneration. ...
AstraZeneca shareholders revolt over chief executive's £13m pay image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:13:55 PM
....AstraZeneca has suffered another shareholder revolt over executive pay, with two-fifths opposing a £13m package for its chief executive. Nearly 39% of investors voted against the pharmaceutical group’s 2016 remuneration report at its annual meeting in London, similar to the rebellion it faced three years ago. ...
Hard tackling image
Source : BBC [Read Article] Wednesday 26th of April 2017 11:25:54 AM
....They came to the fore at the start of the 2000s, and have mushroomed since then. The suspicion is that athletes are avoiding tax on salaries by having a large amount of their remuneration awarded as image rights payments, which could then be paid to a separate, player-connected, company. ...
Most global investors recognise financial risk of climate change, report finds image
.... Australia’s Local Government Super ranked first among asset owners in the world and First State Super ranked third, both with a triple A rating. But Hewson said there was still “enormous resistance” among Australia’s asset owners because they tend to “take a very short-term focus, and rely on short-term remuneration, so they won’t take a medium to long-term challenge on easily”. ...
Barclays boss’s spy act is a funny old business image
Source : Guardian [Read Article] Sunday 23rd of April 2017 06:00:05 AM
....You’ll recall how in the so-called shareholder spring of 2012, then Astra boss David Brennan was ousted after a row over his £9m package, which he’d combined with a touch of underperformance – but the pay narrative has remained pretty constant since, no matter who’s been the boss. This year should prove to be another re-run, with Pirc opposing both the group’s remuneration report and policy – describing the latter as a method to “promote excessive payouts”. ...
Next slashes Wolfson's pay by half after profits slide image
Source : BBC [Read Article] Tuesday 18th of April 2017 06:35:51 PM
....The fashion and homewares retailer blamed a combination of factors, with its customers' incomes being squeezed by rising prices, forcing them to rein in their spending on clothes. In the annual report, the head of the remuneration committee, Caroline Goodall, said the executive directors and the chief executive would have to take a pay cut. ...
Next boss misses out on annual bonus for first time in 18 years image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:15:22 PM
....3m total pay package. Total remuneration for Next’s board almost halved as all directors missed out on their annual bonus after a failure to stock enough wardrobe staples contributed to the chain’s first drop in annual profits for eight years. ...
Credit Suisse bosses slash bonuses 40 percent image
Source : Guardian [Read Article] Friday 14th of April 2017 03:10:01 PM
....Three shareholder advisory services, including the influential Institutional Shareholder Service (ISS), had urged shareholders to vote down the pay awards. “Despite a second consecutive net loss, variable remuneration levels for the executive board remained high, including a SFr4. ...
Drax investors rebel on bosses' pay image
Source : BBC [Read Article] Thursday 13th of April 2017 04:07:48 PM
. A third of investors in Drax have voted against its remuneration report after its finance chief was awarded a bonus of almost £500,000. ...
Southern rail boss paid £495,000 image
Source : Guardian [Read Article] Monday 10th of April 2017 10:09:03 AM
....David Brown, the chief executive of Go-Ahead, the parent company of Govia Thameslink, refused an annual bonus and pay increase in September given the disruption on the network. Go-Ahead’s annual report states: “The directors’ remuneration policy is designed to reflect the group’s performance, with elements of remuneration linked to our strategic priorities, particularly health and safety, customer satisfaction, and operating profit and cashflow. ...
Unilever bins Flora – but butters up its shareholders | Nils Pratley image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:21:41 PM
....”. This, you may have guessed, is not how Professor Dame Ann Dowling, head of BP’s remuneration committee, reflected on “the events of 2016” as she referred to the thumping 59% vote against the pay report. ...
BP slashes 2016 pay for boss Dudley image
Source : BBC [Read Article] Thursday 6th of April 2017 10:29:51 AM
....The vote was non-binding and Mr Dudley received the package, but BP's chairman acknowledged the unhappiness of shareholders and ordered a review, the results of which were announced on Thursday. "The proposed remuneration policy is designed to ensure a clear link between delivery of BP's strategy and pay," the company said. ...
Gender pay gaps must be declared by UK companies image
Source : BBC [Read Article] Wednesday 5th of April 2017 10:57:09 PM
.... Until then, it may take weeks or months for the UK's largest companies to publish the differences between what they pay men and women. Fund manager Schroders became the first FTSE 100 company to go public, revealing in a remuneration report that pay for female staff was 33% lower on average. ...
Boardroom pay: Theresa May must act to curb the excesses | Nils Pratley image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:32:04 AM
.... It is easier to produce big profits at an oil producer, for example, when the oil price is rising; the same applies with housebuilders and house prices. When pay committees, egged on by remuneration consultants, attempted to fine-tune their models by adding new metrics, they just introduced more complexity and lottery-like features. ...
MPs urge crackdown on excessive pay to rebuild public trust in business image
Source : Guardian [Read Article] Wednesday 5th of April 2017 05:30:12 AM
....Among their wide-ranging recommendations, the MPs’ committee called for a ban on long-term investment plans, complex multi-year pay deals that have been criticised for masking the true extent of huge awards to executives and for encouraging short-term thinking. Responding to the gulf in pay that has emerged between bosses and average workers, MPs on the business, energy and industrial strategy select committee also called on firms to publish pay ratios between top executives and other employees and to put workers on remuneration committees. ...
High pay eroding trust in business, says MPs' report image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:14:33 PM
....The MPs want tough new measures to bring boardrooms back into line. Mr Wright said: "Executive pay has been ratcheted up so high that it is impossible to see a credible link between remuneration and performance. ...
Ignore the nanny-state claims – credit card firms need to help those in long-term debt | Nils Pratley image
.... Graham Ruddick. Legal & General’s annual corporate governance report reveals that the fund manager voted against 118 pay resolutions and 18 named directors at company meetings in 2016 due to concerns about remuneration. ...
‘Don’t be apologetic, you’ve nothing to apologise for’ – our work expert responds image
.... We only get a 30-minute break, which is constantly disturbed with inquiries from other members of staff, so really there’s no time to ourselves. Staffing levels have got lower and lower so we are run ragged, and we’re told on almost a daily basis that we need to make sure the customer surveys come back glowing! I am questioning whether I can continue with so much pressure, and with so little remuneration. ...
Reckitt Benckiser slashes boss's pay by 40% image
Source : BBC [Read Article] Friday 31st of March 2017 02:22:16 PM
.... . Judy Sprieser, chair of RB's remuneration committee, said: "[We have] taken action in respect of both of these one-off events. ...
GSK's Emma Walmsley steps into Andrew Witty's shoes image
Source : BBC [Read Article] Thursday 30th of March 2017 10:59:54 PM
.... . "Taking into account the fact that this is Emma's first chief executive role, reductions have been made to all elements of her remuneration package in comparison to Sir Andrew's," the report said. ...
Bonus for Pearson chief despite biggest loss in company's history image
Source : Guardian [Read Article] Friday 24th of March 2017 03:30:57 PM
....Fallon, who has pledged to use the bonus to buy shares in Pearson as a display of faith in the company, received 44% of his target bonus and just under a quarter of his maximum potential bonus. His total remuneration was up 20% on 2015’s £1. ...
How can I carry on as a store team leader now it is beyond stressful? image
Source : Guardian [Read Article] Friday 24th of March 2017 07:00:26 AM
.... Staffing levels have got lower and lower, so we are run ragged and told on almost a daily basis that we need to make sure the customer surveys come back glowing. I am questioning whether I can continue with so much pressure put upon us team leaders with so little remuneration. ...
What next for Next? Decline, if it comes, should still be profitable | Nils Pratley image
.... A Next-style analysis might be revealing. A 58% defeat for a remuneration report counts as a thumper, but Crest Nicholson cannot be surprised it happened. ...
Crest Nicholson to pay bonuses despite shareholder revolt image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:10:32 PM
....Shareholders in Crest Nicholson, one of the largest housebuilders in Britain, have voted against a pay deal for the company’s directors because of concerns that the performance targets were too easy. The rebellion means Crest Nicholson is the first major company this year to see investors reject its remuneration report, which is a major embarrassment. ...
Boss of British Gas owner gets 40% pay rise as millions live in fuel poverty image
....The boss of British Gas’s parent company was handed a pay increase of nearly 40% last year, a raise Labour attacked as “astronomical” and a “kick in the teeth” for millions of families living in fuel poverty. Centrica chief executive Iain Conn’s remuneration jumped from £3. ...

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