This consultation ran from 14 March 2012 12:00am to
27 April 2012 11:45pm
Consultation seeking views on proposed measures to give company shareholders greater influence over executive pay, through enhanced voting rights.
This consultation seeks evidence on the impact, costs, benefits and likely behavioural effects of proposals which include:
- an annual binding vote on future remuneration policy
- increasing the level of support required on votes on future remuneration policy
- an annual advisory vote on how remuneration policy has been implemented in the previous year
- a binding vote on exit payments over one year’s salary
It is built on the evidence received in response to a discussion paper on executive remuneration, published in 2011.
Following this consultation on enhanced shareholder voting rights the Business Secretary, Vince Cable, announced a reform of the framework for directors’ remuneration.