As the so-called “Shareholder Spring” moves into the summer, the question most people are asking is ”Where next?”
Secretary of State Vince Cable has laid down a marker for future legislation on a binding vote on remuneration policy. Given that this is the UK’s third attempt at addressing executive pay issues(Greenbury, 1995; Directors’ Remuneration Report Regulations, 2002) there’s a feeling that what has gone before hasn’t worked. For shareholders and companies alike the challenge is going to be how to make the new regulatory environment work when previous attempts have failed – or possibly not succeeded as much as they could have.
In the debate surrounding executive pay, it was clear that there were widespread misunderstandings and misinterpretations of key facts about the structure, rationale and quantum of pay as well as the role of the various participants in setting and monitoring executive reward. Manifest has been able to play a direct role in getting the facts straight with Dept BIS and the wider media through its work on executive pay analysis which is best known through our annual survey produced in conjunction with MM&K and our unique AGM voting results database, VoteWatch.
To mark the launch of the 2012 edition of the Total Remuneration Survey we are hosting a joint seminar with MM&K to announce the headline results of our latest findings and put those into context with Manifest’s Total Remuneration Assessment Matrix used by investors to appraise corporate remuneration policies and associated voting outcomes.
Putting the findings into context we have put together a panel debate between leading participants to draw out the key concerns of shareholders and companies as well as proposing options for better outcomes. Joining us on the panel are Dr Daniel Summerfield of Universities Superannuation Scheme; Dr Ruth Bender of Cranfield Business School and Michael Wemms, Chairman of MoneySupermarket.com plc’s remuneration committee. The debate will be steered by William Wright, editor at large for Financial News.
Registration is free but places are limited. Click here to view the agenda and book your place. http://execpay2012.eventbrite.co.uk/
Or for further information contact Emma Jarvis at MM&K on 020 7283 7200 or Paul Hewitt at Manifest on 01376 503500