UK government clamps down on exec pay through shareholder vote
The UK government has put forward legislation that gives more power to investors when deciding on executive pay packages. The move comes just a month after shareholder pressure over remuneration was instrumental in ousting Aviva CEO Andrew Moss.
Under the new legislation, shareholders will have a three-year legally binding vote to determine overall remuneration policies for board executives as well as an annual advisory vote on how the policy was implemented during that year.
Companies will also be required to...
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