It’s annual general meeting season for public companies around the world, and, as in previous years, the compensation packages announced for their top managers leave people agape. But a concerted pushback has begun, led by a group that companies and their boards cannot afford to ignore: their largest and most influential investors.
LONDON – It’s annual general meeting (AGM) season for public companies around the world, and, as in previous years, one issue has been moving company news from the business section to the front page: executive pay. Companies continue to announce compensation packages for their top managers that leave people agape, not just because the gap between companies’ highest- and lowest-paid workers is so wide, but also because the compensation bears so little relation to firms’ performance.
LONDON – It’s annual general meeting (AGM) season for public companies around the world, and, as in previous years, one issue has been moving company news from the business section to the front page: executive pay. Companies continue to announce compensation packages for their top managers that leave people agape, not just because the gap between companies’ highest- and lowest-paid workers is so wide, but also because the compensation bears so little relation to firms’ performance.