As you may be aware the Government has now announced its plans on corporate governance reform following a thorough consultation process. I am pleased to say that a large focus of these reforms will be to tackle abuses and excesses in the boardroom, specifically that of executive pay.
Previous reforms introduced by the Government in 2013 have gone some way to strengthening and increasing transparency in the UK executive pay framework - in particular the requirement to gain shareholder approval for executive pay policies every three years and the need to disclose the pay of each director as a single figure. However, I appreciate that executive pay has continued to be a key factor in public dissatisfaction with large businesses, and a source of frustration to UK investors.
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