Low-wage employers including Coca-Cola and Hilton hiked CEO pay during pandemic May 11, 2021 Over half of the 100 companies in the S&P 500 Index that pay out the lowest median wages increased CEO salaries last year, according to a report published today by the Institute for Policy Studies. The left-leaning policy group said 51 companies identified boosted chief executive pay by adjusting the rules for assessing executive performance [...]
Bitter clash at Astrazeneca as 40 per cent of shareholders reject CEO pay package May 11, 2021 A share bonus hike for Astrazeneca’s chief executive was only narrowly approved in a vote where nearly 40 per cent of the pharma’s shareholders rejected the proposed pay package. The pharmaceutical giant did pass the proposal, however, which could take Pascal Soriot’s total pay, including a £1.3m salary, above the £15.4m he received last year. [...]
Next CEO Lord Simon Wolfson’s pay jumps 28 per cent despite profit plunge, shut stores and furloughed staff April 20, 2021 Next boss Lord Simon Wolfson's pay jumps 28 per cent despite profit slump, closed stores and furloughed staff
Hedge fund tycoon Sir Chris Hohn pockets £343m in record payday March 1, 2021 Hedge fund billionaire Sir Chris Hohn paid himself £343m ($479m) last year in what is believed to be the UK’s largest ever annual pay packet. The tycoon took home the record wage after his Children’s Investment Fund (TCI) booked pre-tax profit of $695m, up from $420m the previous year. The bumper salary, paid for the [...]
Why the whistleblower is truly the boss’s best friend August 25, 2020 Whistleblowers have an unfair reputation.Traditionally known as the “snitch”, or the “traitor”, the whistleblower — especially in the corporate services firms — should be rebranded as the “chief executive’s best friend”. We need to change the stigma of the whistleblower. Historically, those who dared to speak up — whether to uncover a persistent culture of [...]
Finding the best way to incentivise management July 14, 2020 | City Talk With cash at a premium, businesses could be considering an award of shares to employees instead of bonuses. This could be a good way to incentivise key employees in the long term without utilising cash and perhaps a first step towards unlocking liquidity for owners through, for example, a management buy-out. However, with share values [...]
Lloyds hit by investor backlash over executive pay package May 21, 2020 Lloyds was left reeling from a shareholder revolt today after more than a third of investors voted against the bank’s pay policy for top executives. The investor backlash came after influential proxy adviser group ISS recommended voting against the changes to the policy amid concerns it will all but guarantee long-term bonuses. While the rebellion [...]
The gender pay reporting rules have been waived due to coronavirus March 24, 2020 The annual reporting of gender pay gaps at UK businesses will not be required this year. The Equality and Human Rights Commission and Government Equality Office made the announcement as the country comes to terms with unprecedented restrictions to combat coronavirus. Last night, the Prime Minister announced wide ranging restrictions on social interaction to prevent [...]
A quarter of FTSE companies faced shareholder dissent in 2019 February 20, 2020 Investors cranked up the pressure on British companies last year, with a quarter of firms on the FTSE All-Share hit by shareholder dissent, according to new figures. Some 158 of the 641 firms on the index experienced significant investor rebellions in 2019, with executive pay and the re-election of directors among shareholders’ biggest concerns, according [...]
DEBATE: Could bringing back bonuses help make pay fairer? January 10, 2020 Could bringing back performance-based bonuses help make pay fairer? YES, says Giles Gibbons, chief executive of Good Business, an ethical strategy consultancy. News this week that FTSE 100 bosses earn a typical worker’s wage in just 33 hours angered people across the UK — something has to change. And counter-intuitive as it may seem, bringing [...]