UK Prime Minister Theresa May’s plans to reform corporate governance have been criticised in a report by thinktank the Big Innovation Centre. The report, which was commissioned after May announced her plan for an “industrial strategy”, said that while she had promised to make Britain “the best place on earth to do business” it would be The report called for simpler pay structures and fair pay charters, as well as direct comparisons of CEO pay to company performance.
UK Prime Minister Theresa May’s plans to reform corporate governance have been criticised in a report by thinktank the Big Innovation Centre. The report, whose authors include Bank of England chief economist Andy Haldane and remuneration chief of Kingfisher, Clare Chapman, rejected the idea of binding shareholder votes on executive pay, calling for such votes only after 25% of shareholders have rejected the pay report for two consecutive years, and criticised calls for companies to publish pay ratios. The report called for simpler pay structures and fair pay charters, as well as direct comparisons of CEO pay to company performance.