WGPlus (Archive)

Too often it’s just the Boardroom that gets to eat ‘cake’

Business Secretary Greg Clark has set out the government's corporate governance reforms to enhance the public's trust in business.  For the first time listed companies will have to publish pay ratios between chief executives & their average UK worker under government reforms to boardroom accountability.

The government’s package of corporate governance reforms will enhance the transparency of big business to shareholders, employees and the public.  These will include the world’s first public register of listed companies where a fifth of investors have objected to executive annual pay packages.

In the coming months the government will also introduce new laws to require:

  • all companies of a significant size to publicly explain how their directors take employees’ & shareholders’ interests into account
  • all large companies to make their responsible business arrangements public
Researched Links:

BEIS:  World-leading package of corporate governance reforms announced to increase boardroom accountability and enhance trust in business

CBI comments on the Government's corporate governance proposals

TUC: Feeble government corporate governance package is far cry from promised crackdown

Adam Smith Inst:  Attacking CEO pay is pointless and will hurt British firms

New Economics Foundation welcomes new executive pay plans as "vital first step"

British business must act on corporate governance

TUC: MPs' proposals for a fairer corporate Britain would benefit working people and the economy

CBI: Good corporate governance is an essential ingredient for trust between business and society

FRC updates new website and Mission Statement

FRC: Corporate Governance will evolve to meet the changing needs of the UK

FRC consults on non-financial reporting guidance

CIPD:  Reality bites - Average FTSE 100 CEO pay packet drops by 17% in the past year

TUC: Workforce engagement must be at heart of industrial strategy

FRC comments on Business, Energy and Industrial Strategy Committee report on Corporate Governance

FRC to review the UK Corporate Governance Code

New diet needed for corporate ‘Fat Cats’ – CIPD & High Pay Centre

IEA:  ‘Fat Cat Wednesday’ distracts focus from crucial issues of low pay & cost of living crisis

Boardroom shake-up needed to rein in fat cat greed, says TUC

HPC: 10% pay rise? That’ll do nicely

TUC: Fat cat pay shows the government is making wrong choices for a fair economy

CIPD - Fundamental rethink needed on chief exec pay as growing gap between boardroom & workforce demotivates staff

Governance, Risk and Compliance: Creating an Effective Business Case for a GRC Platform