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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CMA Launches 'Stop Cartels' Campaign
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04 March 2002
Top Consignia directors decline 10 per cent pay hike
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09 August 2001
Galen reports turnover up, but profits down
Pharmaceuticals company Galen Holding’s latest interim figures reveal a £25.3 million rise in turnover for the quarter to the end of June. This translates into a 118 per cent increase on turnover in the same period last year, in part due to a strong performance resulting from a deal with US-based Warner Chilcott in September 2000.
Galen reports turnover up, but profits down
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21 February 2002
Oftel urges BT to cut internet costs
Telecommunications regulator Oftel has recommended that BT slash their costs for unmetered Internet access. Oftel wants BT to cut the amount it charges Internet service providers to use their existing telephone network by seven per cent.
Oftel urges BT to cut internet costs
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