by Cliff Weight, ShareSoc Director
Executive Pay is attracting much attention. The issues were well written up in this Guardian article.
Insititutional fund managers have been slow to address this issue which is of great public concern. Their representative trade body have produced weasel words with lots of opt out possibilities, eg Chris Cummings, the IA’s chief executive, said: “Investment managers expect executive remuneration to be linked to long term company performance and aligned with the experience of its employees, stakeholders and shareholders. During this exceptional period we expect companies to adopt an approach that is appropriate to their business and the specific impacts of Covid-19, being careful to ensure that executives and the general workforce are treated consistently.”
My own views were written at the beginning of April and published in Executive Compensation Briefing and still seem to be valid: see ECB CW article ecbapr20