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22/01/2002
Shareholders to gain greater influence on executive pay
A greater number of UK shareholders will have the opportunity to vote on the issue of the pay of their company’s executives at annual general meetings.
A new survey has revealed that 40 per cent of firms listed on the London Stock Exchange are intending to put the issue of management pay to the vote this year, in comparison to only 13 per cent in 2001.
The news signifies a greater willingness from firms to expose their financial performance in public, with over 90 per cent of companies surveyed planning to publish performance statistics in their annual reports.
The findings also see companies coming in line with new government regulations coming into force in 2003 that will require all firms to include hard evidence of management performance in their annual reports.
Responding to the report, TUC General Secretary, John Monks, commented: “This is to be welcomed – but the new system will only bite if shareholders and fund managers take an active role by casting their vote.” (CL)
A new survey has revealed that 40 per cent of firms listed on the London Stock Exchange are intending to put the issue of management pay to the vote this year, in comparison to only 13 per cent in 2001.
The news signifies a greater willingness from firms to expose their financial performance in public, with over 90 per cent of companies surveyed planning to publish performance statistics in their annual reports.
The findings also see companies coming in line with new government regulations coming into force in 2003 that will require all firms to include hard evidence of management performance in their annual reports.
Responding to the report, TUC General Secretary, John Monks, commented: “This is to be welcomed – but the new system will only bite if shareholders and fund managers take an active role by casting their vote.” (CL)
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NI lags behind UK in designating stakeholder pensions
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UK IT professionals out-earn European counterparts
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