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Just what is the most appropriate level of executive pay and what is the best approach to aligning interests between executives and shareholders? This little gem of an extract comes from a submission to Australia’s Productivity Commission made in 2009 by Ian Crichton of CRA Plan Managers, a remuneration consultant, may provide some insight. continue reading >> PROXY Governance and the Investor Responsibility Research Center Institute (IRRCi) today released a new study, “Compensation Peer Groups at Companies with High Pay” that identifies a subset of S&P 500 companies with high pay that is not aligned with high performance. The data reveals that high executive pay companies self-select …… continue reading >> Reaction to the new remuneration disclosure requirements set out by the Comissão de Valores Mobiliários (Securities and Exchange Commission of Brazil, or “CVM”), have been mixed, ranging from full and immediate compliance to complete revolt – with some companies filing lawsuits challenging the legality of the new provisions. CVM, the regulatory body for the Brazilian …… continue reading >> Peter Dey, the architect of Canada’s first corporate governance guidelines for boards, is convinced that the power of directors has been eroded on that balance of power has shifted too far to shareholders on key issues. Dey’s remarks were made in a speech at the ICGN annual conference this week after he received the Lifetime Achiever Award in recognition …… continue reading >> Remuneration reports are “unduly complex, place a significant burden on companies and are of limited use to shareholders and other readers. At worst, they have become almost incomprehensible to even expert readers and can give a distorted picture of executive remuneration.” So says the Australian Institute of Company Directors (ACID). Instead ACID wants the reports to …… continue reading >> The Say on Pay continues to play out at US annual meetings this year – both in terms of management and shareholder proposals. Here are a few highlights prepared by Allie Monaco of ProxyGovernance: Two management say on pay proposals were defeated at meetings last week. At its May 3 meeting, Motorola Inc became the …… continue reading >> Xstrata may find that its remuneration report resolution hits the headlines yet again on May 5th. Against a backdrop of general public hostility towards high director bonuses and greater shareholder scrutiny on remuneration reports resolutions, resulting in higher levels of dissent (“Against” votes plus abstentions), Xstrata’s board will likely again need major shareholder, Glencore …… continue reading >> Australian Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen has delighted Australian shareholders with plans to introduce extensive executive remuneration reforms designed to force boards to be more accountable and give shareholders more power. Chris Bowen MP In a ringing endorsement of the Productivity Commission’s review of executive pay which was published in …… continue reading >> |
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