The High Pay Centre has published its annual survey of FTSE 100
CEO pay which has revealed that the average CEO took home
£5.48 million last year. This represents a 10 per cent
increase on the £4.96 million average for 2014. In
contrast, the Office for National Statistics reports that the
average weekly wage for all UK employees grew by just 1.9 per
Stefan Stern, director of the High Pay Centre, said: "There
is apparently no end yet in sight to the rise and rise of FTSE 100
CEO pay packages. In spite of the occasional flurry from more
active shareholders, boards continue to award ever larger amounts
of pay to their most senior executives."
The High Pay Centre acknowledges that the figures are skewed
slightly by a couple of very large increases but the results only
amplify attention on the ongoing debate regarding senior executive
pay. Theresa May referred to this issue in her leadership
campaign where she pledged to build a Britain "that works for
everyone, not just the privileged few".
Mrs May has committed to making shareholder votes on corporate
pay "not just advisory, but binding". We await details on
how the law will change so that shareholders can influence actual
levels of senior executive pay each year and whether the proposal
that shareholders will be able to veto any pay packages that they
consider are "undeserved" will come to fruition.
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The seminar will take place on 31 March 2017. It aims to provide German companies with an overview of the latest developments in relation to insurance coverage, banking transactions and legal aspects of doing business with Iran.
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An assignment of rights under a contract is normally restricted to the benefit of the contract. Where a party wishes to transfer both the benefit and burden of the contract this generally needs to be done by way of a novation.
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