The collapse of Carillion has raised many issues relating to public procurement, the actions of the board and the role of the auditors. But a press release by the Institute of Directors suggesting that in 2016 Carillion relaxed the clawback conditions that applied to bonuses has raised questions over remuneration governance. The change seems to … Continue Reading
With all the media frenzy over whether Theresa May has delivered on her (perhaps overly ambitious) promises on corporate governance reform, it is easy to miss the substance of what the Government has just announced. Although there are no bold new initiatives, there are plenty of changes that are designed to deliver nudges to corporate … Continue Reading
As trailed in our recent blog post, the green paper on the reform of corporate governance was published today by the Department for Business, Energy and Industrial Strategy (formerly BIS). The paper sets out 14 questions for consultation. The consultation covers three main areas: executive pay, “which has grown much faster over the last two … Continue Reading
At the same time as all the publicity about Dr Vince Cable’s appeals to FTSE100 companies for executive pay restraint, the FRC has published the responses to its consultation last autumn about proposed changes to the UK Corporate Governance Code. A sizeable chunk of these focus on directors’ remuneration and the FRC is consulting further on these … Continue Reading
