Exec Compensation Lacks Transparency: EU Report

Law360, New York (July 20, 2007, 12:00 AM EDT) -- Executive compensation remains an area lacking in transparency and rife with conflicts of interest, according to a new European Commission report on corporate governance.

Two new reports, made public on Friday, show that while some progress has been made, weaknesses remain in the areas of directors' remuneration and the independence of non-executive directors.

The report on executive compensation reveals that although member states have implemented heightened transparency requirements, many still have not opened renumeration to shareholder votes, which has been advocated by the Commission.

“Directors’ remuneration...
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