- Pay and pay offs may be subject to shareholder vote; consultation to determine scope and type of vote
- Serving executives to be limited from other companies’ remuneration committees
- UK Corporate Governance Code to be amended to allow clawback of pay
- Remuneration reports to be split into “past pay” and “future pay” sections
The Business Secretary today set out in Parliament (ahead of a formal launch tomorrow) the Government’s plans for more transparency in, and greater shareholder control over, executive pay at listed companies. The principal measures announced in the Business Secretary’s speech are set out below.
UPDATE 25 January 2012: The Department for Business, Innovation and Skills has now published information about the Government’s proposals on its website.