Topic filter : Remuneration

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.... 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”. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 08:00:15 PM
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....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. ... [Read full article on BBC ]
Wednesday 26th of April 2017 11:25:54 AM
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Latest Finance News related to Remuneration

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. ...
Bosses' incomes are 386 times higher than Living Wage image
Source : BBC [Read Article] Wednesday 22nd of March 2017 01:21:15 PM
.... . Other suggestions aimed at curbing corporate pay included improving the effectiveness of remuneration committees and the extent to which they must consult shareholders and workers on executive pay levels. ...
British firms warned over new wave of pay revolts at AGMs image
Source : Guardian [Read Article] Sunday 19th of March 2017 12:59:57 PM
. Britain’s biggest companies have been warned they face a wave of revolts in the forthcoming annual meeting season and risk a government clampdown on excessive remuneration unless they show restraint over executive pay. ...
Executive pay: all eyes on boardroom as AGM season looms  | Chris Cummings image
.... In many cases, shareholder engagement has led to significant changes to a company’s proposals on pay, with a number of the largest companies in the UK reducing future executive pay packets as a result. So far we have seen the tobacco giant Imperial Brands being forced to withdraw its remuneration policy vote at its AGM due to lack of shareholder support. ...
Sports Direct calls executive pay report 'fake news' image
Source : BBC [Read Article] Wednesday 15th of March 2017 09:59:54 AM
....It added in a statement: "At the time of collation, PIRC's analysis of the ratio for the period under review was correct. Changes to the company remuneration scheme in subsequent periods will be updated in our 2017 annual review. ...
New GlaxoSmithKline chief to earn 25% less than her predecessor image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:04:51 PM
....Walmsley will be the most powerful woman in the pharmaceutical industry when she takes the helm next month after her promotion from head of GSK’s consumer healthcare business, whose products include Sensodyne toothpaste and Panadol painkillers. Urs Rohner, the non-executive director who chairs GSK’s remuneration committee, said: “Taking into account the fact that this is Emma’s first CEO role, reductions have been made to all elements of her remuneration package in comparison to Sir Andrew’s current arrangements. ...
Top executives may be brilliant – but their pay's about timing and luck image
.... Cutifani may be doing an excellent job, but common sense says the size of his likely windfall owes more to timing than to personal brilliance. Remembering last year’s 42% shareholder rebellion over precisely this possibility of a windfall gain, Anglo’s remuneration chair Sir Philip Hampton proposes a few tweaks to address what he calls “the issue of volatility”. ...
‘To fly, to starve’ – BA cabin crew deserve better | Letter image
Source : Guardian [Read Article] Monday 13th of March 2017 05:38:47 PM
....The spurious excuse of a tough trading environment used in 2010 is wholly implausible now, given the parent company’s (IAG) recent declaration of £2bn pre-tax profit, an increase of one-third on the previous year. BA’s professional and committed workforce should not to have “to fly, to starve”, while the CEO’s remuneration package soars to €8. ...
Anglo American caps bonus payouts after shareholder revolt image
Source : Guardian [Read Article] Monday 13th of March 2017 05:16:47 PM
....4m but now worth nearly £12m. Sir Philip Hampton, the non-executive director who chairs the remuneration committee, said: “We were determined to address investors’ concerns about the potential windfall gains for executive directors arising as a result of the volatility of the company’s share price and the mining industry more generally. ...
Sir Martin Sorrell's £42m payout takes earnings to £210m in five years image
....6m payout is the last from the Leap scheme, which will be replaced with a less generous deal which investors expect to pay out less than £20m. The near £42m will be added to Sorrell’s salary, bonus and other extras when WPPpublish its annual report and will probably push his full remuneration for 2016to closer to £50m. ...
Business group calls for change to schemes giving tax breaks to 'select few' image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 12:01:00 AM
.... . Co-operatives UK says that two discretionary share schemes, the Company Share Option Plan and Enterprise Management Incentive, give breaks to a “select few” employees as part of their remuneration packages. ...
Australia Post CEO says he feels sorry for Pauline Hanson over pay controversy image
....The Australia Post chief executive, Ahmed Fahour, has labelled Pauline Hanson’s comments about his religion “sad” and said he “feels sorry” for her for making them during the national furore about his $5. 6m remuneration package. ...
Will Pirc squeeze Apple until the pips squeak? image
Source : Guardian [Read Article] Sunday 26th of February 2017 07:00:23 AM
....Meanwhile Pirc is not confining its critiques to US tech firms. It also opposes the remuneration report of FTSE 100 software group Sage, whose annual meeting happens to be on the same day as Apple’s. ...
Australia Post chief resigns despite bumper profits image
Source : BBC [Read Article] Thursday 23rd of February 2017 03:35:29 AM
....4m) last year, 10 times the salary of Prime Minister Malcolm Turnbull. The PM described the remuneration as "too high" with politicians saying it was excessive for a civil servant. ...
Australia Post's chief executive Ahmed Fahour resigns after pay row image
Source : Guardian [Read Article] Thursday 23rd of February 2017 02:05:42 AM
....The chief executive of Australia Post, Ahmed Fahour, has quit after a dispute with the Turnbull government about his $5. 6m remuneration package. ...
City watchdog investigating HSBC over potential financial crime, bank reveals image
....He described the FCA’s investigation as a section 166 reportwhich means a review by an independent firm that could lead to fines if wrong doing is uncovered. Cherkasky’s criticism that HSBC was too slow to improve its systems was taken into account when paying top staff: the part of Gulliver’s pay measured against compliance with financial crime received a 65% rating from the remuneration committee, compared with 75% a year earlier. ...
UK bosses face tougher punishments over corporate governance rules image
Source : Guardian [Read Article] Thursday 16th of February 2017 09:18:39 AM
....Long-term incentive plans used by companies to award shares to directors on the basis of three-year performance, should be overhauled and pay deals spread out over 10 years, the IoD’s new director Martin said. “Simplifying executive pay schemes, which are often unnecessarily complex, and extending payouts over longer periods would both help to restore confidence that remuneration is truly linked to performance,” he added. ...
Calling the latest Greek deal a sticking plaster does disrespect to the Elastoplast image
....This is what happened to Thomas Cook on Thursday, when Standard Life Investments, which owns a 13% stake in the holiday company, made clear its frustrations with the proposed pay rise for boss Peter Fankhauser. The Edinburgh-based fund manager not only voted against a number of the resolutions on pay but also against the re-election to the board of the non-executive directors who sit on the remuneration committee. ...
Instead of draining the swamp, Trump has become Wall Street’s best buddy | Will Hutton image
.... Rather, Trump is in sympathy with the bankers, horrified at the scale of fines they are now paying – Wells Fargo paid a cool $185m. He is also scandalised that holding so much buffer capital and not being able to trade in securities is damaging the bankers’ personal remuneration. ...
Thomas Cook cuts boss's payout after shareholders revolt image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:37:47 PM
....In another concession, the company said it would consult major shareholders before the SSIP is used, and on its performance targets. Nearly 22% of shareholders also voted against the group’s future remuneration policy and 22. ...
Church of England: we'll vote to block excessive boardroom pay deals image
Source : Guardian [Read Article] Tuesday 7th of February 2017 05:31:51 PM
....It is joining the chorus of voices expressing concern about executive pay in a year in which large numbers of companies are putting their bonus deals to a binding vote – rather than an advisory one – at their AGMs. “We voted against two-thirds of remuneration reports that were proposed last year,” said Adam Matthews, head of engagement for the Church Commissioners – an investment fund manager that is a member of the Church Investors Group – and Church of England Pensions Board. ...
Deutsche Börse chief probed over €4.5m share deals ahead of LSE merger talks image
....The operator of the German stock exchange said on Wednesday that the Frankfurt public prosecutor’s office “today investigated at Deutsche Börse in respect of a share purchase by its chief executive officer which was carried out on 14 December 2015”. The share purchase was “in implementation of the executive board’s remuneration programme as approved by the supervisory board of Deutsche Börse”, it said. ...
Leading investor signals it may oppose City bosses' pay rises image
Source : Guardian [Read Article] Wednesday 1st of February 2017 12:02:54 PM
....With Imperial Brands having to abandon a resolution before its annual general meeting on Wednesday that would have led to a multimillion-pound a pay rise for its chief executive, Alison Cooper, major City investors appear ready to block huge renumeration deals during this year’s AGM season. Euan Stirling, head of stewardship at the Edinburgh-based fund manager, said: “The remuneration committee will have to be very persuasive, that all other things being equal, the chief executive should be paid more. ...
TalkTalk chief executive Dido Harding to step down image
Source : Guardian [Read Article] Wednesday 1st of February 2017 07:40:12 AM
....81m in 2015 despite the cyber-attack costing the company £60m and 101,000 customers. Her total remuneration was more than double the £1. ...
Deutsche Bank's $630m Russian fine reflects badly on banking | Nils Pratley image
....That explains the formal mechanics of the €10bn. But it does not explain why the German carmaker, whose board was one of the most highly paid in Europe when the emissions cheating was exposed, appears to have learned nothing about how to reform remuneration after a corporate calamity. ...
BT insists Italian scandal is under control as profits plunge image
Source : Guardian [Read Article] Friday 27th of January 2017 09:54:01 AM
....Patterson would not be drawn on whether he felt he should take some accountability by giving back any bonus payments. BT’s remuneration committee has launched an investigation into whether leading executives, including Patterson, should have any bonus payments clawed back for missing targets after the company delivered profit warnings for the next two years. ...
Does the Imperial revolt herald a new health warning for executive greed? image
Source : Guardian [Read Article] Thursday 26th of January 2017 01:29:10 PM
.... “The board continues to believe that revising the policy is necessary for retaining and attracting the right calibre of talent to ensure the continued sustainable growth of the business,” he says. Before he embarks on his mission to “re-engage” with shareholders, Williamson should take a cold look at how he and David Haines, the hapless chair of the remuneration committee, misread the mood so badly. ...
Tobacco giant Imperial Brands rethinks CEO's pay rise after revolt image
Source : Guardian [Read Article] Thursday 26th of January 2017 10:31:52 AM
....”. David Haines, who chairs the company’s remuneration committee, said the pay rise was needed – not just for Cooper but other executives – because it was “significantly below the average for companies of our size”. ...
BT shareholders will remember profit warning for years | Nils Pratley image
Source : Guardian [Read Article] Tuesday 24th of January 2017 05:47:06 PM
....The annual reports of the past two years describe how “full-scope audit work” was conducted in Italy, including visits in each year by the auditors PricewaterhouseCoopers. What went wrong? Why were two different teams of forensic accountants needed to get the full story? It is not only BT’s remuneration committee that should be examining “the wider implications” – so should the audit committee. ...
BT loses almost £8bn in value as Italy accounting scandal deepens image
Source : Guardian [Read Article] Tuesday 24th of January 2017 11:20:33 AM
.... As a result, profits would be £300m lower than previously expected. The Italian problems mean the company’s remuneration committee will examine bonus payments previously paid to leading directors, including the chief executive, Gavin Patterson, which were based on targets that may not now be met. ...
World's largest fund manager demands cuts to executive pay and bonuses image
Source : Guardian [Read Article] Sunday 15th of January 2017 01:39:14 PM
....One of the first companies to put their pay proposals up for the shareholder vote will be Imperial Brands at its annual general meeting on 1 February. David Haines, chairman of the the tobacco company’s remuneration committee, is recommending a hike in the pay package of its chief executive Alison Cooper, from £5. ...
Corbyn’s wage cap plan labelled unworkable but keeps pay on agenda image
Source : Guardian [Read Article] Tuesday 10th of January 2017 08:05:41 PM
....The intervention by the Labour leader is an indication that the issue remains on the agenda, experts said. Oliver Parry, head of corporate governance at the Institute of Directors, said: “Boards must see today’s suggestion as a warning of things to come if they do not show they can moderate directors’ remuneration. ...
Basic shop disciplines deliver Morrisons a merrier Christmas image
Source : Guardian [Read Article] Tuesday 10th of January 2017 03:13:19 PM
.... OK, but why should Sir Martin Sorrell at WPP, whose key customers are other well-paid marketing executives, care about a government kitemark? Does anyone?. Second, executive pay could be signed off by remuneration committees on which workers have a majority, said Corbyn. ...
Maximum wage cap: how might it work? image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:11:32 PM
....That’s considerably weaker – but probably more practical – than legislating for a maximum wage, a policy Corbyn’s own former economic adviser Danny Blanchflower described as “idiotic”. Corbyn also floated other ways of using the government’s power to influence corporate behaviour, including a “kitemark” for companies whose remuneration policies had government approval, or a preferential tax system to reward them. ...
Deck the halls with share options: today is Fat Cat Wednesday | Anne Perkins image
.... But return on invested capital was up by less than 1%. It comes as no surprise to learn that return on invested capital is not the preferred measure of most remuneration committees. ...
Executive pay: 'Fat Cat Wednesday' highlighted image
Source : BBC [Read Article] Wednesday 4th of January 2017 12:11:42 AM
...." . "Effective representation for ordinary workers on the company remuneration committees that set executive pay, and publication of the pay ratio between the highest and average earner within a company, would bring a greater sense of proportion to the setting of top pay," he added. ...
RBS investors call for governance changes to improve transparency image
Source : Guardian [Read Article] Friday 30th of December 2016 08:06:35 AM
....The groups’ proposal was developed with Gavin Palmer, an outspoken RBS shareholder who interrupted the bank’s 2013 AGM to hand out a petition calling for a committee on the board. It comes after reports that the RBS remuneration committee was discussing plans to cut the maximum amount chief executive Ross McEwan could earn under his long-term incentive plan from £3m to £1. ...
RBS: Small shareholders demand a say in bank bosses' pay image
Source : BBC [Read Article] Friday 30th of December 2016 12:03:50 AM
....In November, the government issued a Green Paper to explore improving how companies are run. It proposed that a shareholder committee could be set up "to scrutinise remuneration and other key corporate issues such as long term strategy and directors' appointments". ...
Nearly 1,000 City staff  at four big US banks given €1m in pay deals in 2015 image
Source : Guardian [Read Article] Wednesday 28th of December 2016 05:34:51 PM
....The EBA’s data covered 2014, the first year of the cap that limits bonuses to 100% of salary, or 200% if shareholders approve. This has had the effect of shifting remuneration towards fixed salaries. ...
Bosses 'do not deserve bumper pay packets', study finds image
Source : BBC [Read Article] Wednesday 28th of December 2016 10:58:06 AM
.... . The study, commissioned by the investment association CFA UK, said the increase in executive remuneration was largely driven by performance-based pay. ...
'Negligible' link between executive pay and firm's performance, says study image
Source : Guardian [Read Article] Tuesday 27th of December 2016 05:56:46 PM
....”. A green paper published by the government last month signalled that companies could be forced to give shareholders more power over executive remuneration, such as a binding vote at businesses where directors have faced “significant opposition” to their pay deals. ...
Dear Jeremy – your work problems solved image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
.... He regularly comes to me for help and advice as he does not have my technical experience. How do I proceed now he has been promoted above me? Do I say “Sorry but I can no longer offer the help I have in the past”, or do I continue to help him and simply lump the fact that he is getting remuneration off my back?. ...
Spread betting firms end winning run as FCA clamps down image
Source : Guardian [Read Article] Tuesday 6th of December 2016 07:14:57 PM
.... Drax would look less like a hard-luck story and more like a solid business again. Defending Sir Martin Sorrell’s £70m pay package is not easy, but Sir John Hood, chair of WPP’s remuneration committee, could surely do better than pleading that the fixed salary component is just like any other chief executive’s. ...
Sorrell not on 'superstar' salary, WPP pay chief tells MPs image
Source : Guardian [Read Article] Tuesday 6th of December 2016 03:39:29 PM
....The chair of WPP’s pay committee has told MPs that Sir Martin Sorrell is not on a “superstar” salary, months after the chief executive faced a shareholder revolt over his £70m pay package for last year. Sir John Hood was taken to task over the scale of Sorrell’s remuneration by a committee of MPs investigating corporate governance and issues including executive pay and board responsibilities. ...
A junior colleague got the job I've been doing – should I still help him? image
.... He regularly comes to me for help and advice as he does not have my technical experience. How do I proceed now he has been promoted above me? Do I say “sorry but I can no longer offer the help I have in the past”, or do I continue to help him and simply lump the fact that he is getting remuneration off my back?. ...
Related to :
We need to rethink workers’ rights in today’s gig economy | Matthew Taylor image
Source : Guardian [Read Article] Wednesday 30th of November 2016 09:28:58 AM
.... Not only do the self-employed pay lower national insurance contributions, but unlike employees their labour isn’t subject to employer’s NI. If two people are doing the same task and earning the same basic remuneration on average earnings, the total tax paid to the state for the employee is about £2,000 a year more than for a self-employed contractor, or as much as £3,000 if they are working through their own company. ...
Tories' corporate reform proposals a far cry from May's radical pledge image
Source : Guardian [Read Article] Tuesday 29th of November 2016 06:38:40 PM
.... It now appears that even her plan to give shareholders an annual binding vote on boardroom pay could be destined for reinterpretation. The green paper says binding votes could apply to all companies or only to those that have “encountered significant shareholder opposition” to the remuneration report. ...
UK government defends apparent U-turn over workers on boards image
Source : Guardian [Read Article] Tuesday 29th of November 2016 09:37:39 AM
....Among the proposals for corporate reform could be the idea of publishing pay ratios – the difference between the chief executive’s pay and that of the workforce. The green paper will have three sections: one on remuneration, one on stakeholder engagement and a third that asks what elements of these should apply to private companies. ...
Theresa May to unveil boardroom crackdown on private big business image
Source : Guardian [Read Article] Tuesday 29th of November 2016 12:01:33 AM
....If stock market companies depart from corporate governance codes they are expected to explain why and the government could suggest that the largest privately owned companies adopt a similar practice under a newly created code of practice. The green paper will have three sections: one on remuneration, one on stakeholder engagement and a third that asks what elements of these should apply to private companies. ...
Theresa May should ignore objections to publishing pay ratios | Nils Pratley image
....As for the inflationary impact, that depends on the pay-setters. If Theresa May wants to change the make-up of remuneration committees or introduce an advisory panel of “stakeholders”, it’s up to those newcomers to resist any over-the-top pay demands by the executives. ...
Executive pay under unprecedented scrutiny – IoD chief image
Source : Guardian [Read Article] Monday 28th of November 2016 12:01:14 AM
....“At this point the need for change is a pragmatic, even more than a moral one. I am not talking about hand-wringing or words of contrition, I am talking about corporate awareness actually tempering remuneration decisions. ...
Executive pay: Companies could be forced to reveal pay gap image
Source : BBC [Read Article] Sunday 27th of November 2016 03:23:57 AM
.... . Other proposals include improving the effectiveness of remuneration committees and votes on pay packages. ...
Theresa May's executive pay reforms challenged by thinktank image
Source : Guardian [Read Article] Friday 25th of November 2016 11:03:07 AM
....A report by independent thinktank the Big Innovation Centre urged the prime minister to rethink the detail of plans to reform the UK’s corporate governance regime. The authors – including Bank of England chief economist Andy Haldane and Clare Chapman, remuneration chief of B&Q owner Kingfisher – cast doubt on the wisdom of binding shareholder votes on executive rewards. ...
Business leaders challenge Theresa May's pay proposals image
Source : BBC [Read Article] Friday 25th of November 2016 03:19:54 AM
.... Instead of traditional performance-related pay and cash bonuses, the report calls for more use of share awards stretching over 5-7 years. There should also be more transparency in how pay is set and more consultation with employees to explain how and why the remuneration is set, the report says. ...
Rising executive pay threatening reputation of big business – report image
Source : Guardian [Read Article] Monday 14th of November 2016 05:29:42 PM
. Executive pay is too high and risks damaging the reputation of big business, according to an influential fund management group which has drawn up ideas for reform that could reduce the overall remuneration package of top bosses. ...
YouTube's seven-year stand-off ends image
Source : BBC [Read Article] Tuesday 1st of November 2016 04:01:33 PM
....Gema said there remained disagreement about whether YouTube or the person uploading a clip was ultimately responsible for licensing the music it contained but the new agreement still marked a "milestone". "We remained true to our position that authors should also get a fair remuneration in the digital age, despite the resistance we met," said its chief executive, Harald Heker. ...
Sports Direct: Mike Ashley repeats defence of firm image
Source : BBC [Read Article] Tuesday 20th of September 2016 06:54:24 AM
....". He has highlighted the firm's additional remuneration scheme in recent years. ...

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