UK Seeks To Give Shareholders Binding Say Over Exec Pay

Law360, New York (June 20, 2012, 12:31 PM EDT) -- The British government, citing concerns that executive pay has risen in recent years without an apparent link to company performance, on Wednesday introduced reforms to address the issue, including a measure to give shareholders binding votes on pay policy and exit payments.

According to the Department of Business, Innovation and Skills, over the last decade, directors’ pay in the U.K.’s largest listed companies has quadrupled with no clear tie to how well a company performs.

Vincent Cable, an MP for Twickenham who is also the Business...
To view the full article, register now.