WiredGov Newswire (news from other organisations)
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CBI RESPONDS TO LAUNCH OF GOVERNMENT CONSULTATION ON REMUNERATION BY VINCE CABLE
John Cridland, CBI Director-General, said:
“It is crucial that executive pay is squarely linked to performance, and there are cases where this link needs to be clearer.
“People should be rewarded for good work, and payment for failure is unacceptable, but it must be recognised that the jobs market for senior company executives is one where talent competes globally.
“We need shareholders to be more involved with the companies they invest in, and they should hold the board to account when it’s necessary. However, it is not the role of shareholders to micro-manage companies day-to-day.
“We welcome this consultation, but executive pay must not become a political football, and overly simplistic measures like ratios will not address the problem.”
Notes to Editors: