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Call to curb rise in top pay

first_img Previous Article Next Article Leaders of the £650bn pensions industry have criticised government ministersfor failing to introduce tough measures which could help shareholders curb therise of company directors’ pay. The NAPF urged members at its annual conference to lobby the top 750companies and persuade them to put their pay reports to a vote of shareholders.Only 10 of the UK’s top 350 companies held a shareholder vote on directors’pay structures last year, according to the association. In a letter to itsmembers, chairman of NAPF’s investment committee Alan Rubenstein backed arecent demand by institutional investors for more accountability on pay. A group of institutional investors led by Hermes, one of the UK’s largestfund managers, have asked companies to put their remuneration reports to a voteat their annual general meetings. Together this group owns more than 5 per centof the UK stock market. Related posts:No related photos. Call to curb rise in top payOn 30 May 2001 in Personnel Today Comments are closed. last_img read more