CBI reacts to Government's proposals on executive pay
The CBI today commented on the Government's proposals on executive pay.
John Cridland, CBI Director-General said:
“At a time when family and Government budgets are under great pressure, it is important that executive pay is seen to be fair.
“The CBI wants to see a single figure setting out total pay for senior executives; clear links between levels of pay and performance, and if performance falls short, deferred pay or claw-back arrangements in place, so there are no rewards for failure.
“Government concern on this issue is understandable, but prevention of the problem has to be the answer. Binding shareholder votes would simply be shutting the stable door after the horse has bolted, as shareholders would only be voting after the problem has happened.”
Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.