View more on these topics

Theresa May pledges to crack down on executive pay


Conservative leader frontrunner Theresa May has pledged to place tighter controls on executive pay, to ensure the country works not just for “the privileged few”.

May, who is currently leading the race to become next prime minister, will say today that she will ensure greater employee representation on boards as part of her plans, reports the FT.

Laying out her plans for her leadership campaign, May will say she has a “bold positive vision” for the country.

She will say she wants a society that works for everyone, including “rich and poor, north and south, urban and rural, young and old, male and female, black and white, sick and healthy, public sector, private sector, those with skills and those without”.

Among her plans are for annual shareholder votes on pay to be binding, and for non-executive directors to be drawn from a broader pool of people.

Her plans for big companies to have consumers and employees on boards will affect UK-registered companies and those in the FTSE 100.

The home secretary will also reassure voters that the UK will succeed in Brexit, saying: “Brexit means Brexit and we’re going to make a success of it.”

May, who was in the Remain camp during the EU referendum campaign, faces Leave campaigner Andrea Leadsom in the battle for prime minister.


Old Mutual Wealth 2014

Old Mutual faces shareholder rebellion over ‘unusual’ £9m pay deal

Some of the biggest shareholders in Old Mutual are considering voting against a proposed pay deal for the Old Mutual chief executive which would see him paid 1,000 per cent of base salary. The Financial Times reports Bruce Hemphill’ base salary is proposed at £900,000, making the maximum payout £9m under a long-term incentive plan […]

Daniel Godfrey in talks with investment charity on tackling fund manager pay

ShareAction chief executive Catherine Howarth and former Investment Association boss Daniel Godfrey are in talks over how to tackle incentives structures in the asset management industry. Among other topics the duo will research the underlying design of pay schemes and how remuneration structures work. This will include compiling evidence on agreements between pension funds and asset […]

Standard Life chief executive Keith Skeoch

Standard Life shareholders revolt over chief exec pay

More than a fifth of Standard Life shareholders voted against the company’s remuneration report, despite a last-minute deal to cut chief executive Keith Skeoch’s pay. At the company’s annual general meeting yesterday, 22.31 per cent of shareholders voted against the directors pay plan. Last week Skeoch announced that he would cut his maximum bonus amount […]

Sustainability Q&A

Following his latest webinar ‘Has sustainability been Trumped’ Mike Fox answers questions in relation to how Trump’s environmentally unfriendly policies might affect sustainable investment strategies. Read the article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment