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.
Dentons is the world's first polycentric global law firm. A
top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm
is committed to challenging the status quo in delivering consistent
and uncompromising quality and value in new and inventive ways.
Driven to provide clients a competitive edge, and connected to the
communities where its clients want to do business, Dentons knows
that understanding local cultures is crucial to successfully
completing a deal, resolving a dispute or solving a business
challenge. Now the world's largest law firm, Dentons'
global team builds agile, tailored solutions to meet the local,
national and global needs of private and public clients of any size
in more than 125 locations serving 50-plus countries.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
You are cordially invited to our workshop on processing of employees’ personal data in light of the new EU Regulation on Personal Data Protection (GDPR). The meeting is organized by Dentons together with the American Chamber of Commerce in Poland.
Dentons will hold a Competition Breakfast Seminar on February 28, 2017 titled: Rebates and discounts under EU competition law – lessons of the Intel case. Renowned competition lawyer James Venit from Dentons’ Brussels office will be joining co-heads Tihamér Tóth and Tünde Gönczöl of Dentons Budapest’s
You are cordially invited to a practical seminar on private antitrust enforcement in light of the soon to be implemented Damages Directive, which we address to the banking and finance sector. During the seminar we will present new tools designed for cartel damages litigation in light of fast forwarding the legislative process in Poland from a lawyer’s and an economist’s perspective. We will discuss examples of private antitrust litigation from a jurisdiction where the system is already effective and consider whether third party litigation funding is an option in Poland. All these points will help you identify potential claims against other market players and prepare a defense strategy against private enforcement claims targeting your institution.
With a view to promote corporate transparency and prevent misuse of corporate vehicles for illicit purposes such as corruption, tax evasion, money laundering, the Financial Action Task Force ("FATF")...
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.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).