Pay and the Pavarotti factor
Article Abstract:
The forthcoming report from the Greenbury committee on executive pay levels will recommend much stricter controls on the salaries of senior executives and on length-of-service contracts. Some people will see this as going too far, placing unnecessary restraints on companies, while others will call for further action to be taken. This has become a sensitive political issue, but also has economic implications. Pay levels have been forced up as the employment market has become more international, and the move towards using outside management consultants has also had a similar effect.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Why should a racing driver earn more than a bank boss?
Article Abstract:
The announcement by prime minister John Major that his government is prepared to take action to limit the pay of directors of privatised utilities highlights the fact that ordinary people are no longer prepared to let these directors set their own pay levels. There is no real trend towards strict pay constraints of the kind seen in the 1970s, but there is public concern about the fact that the earnings of a small number of people are not determined by market forces.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Expect change to more than top people's pay
Article Abstract:
Pay levels for senior executives have always been determined within the private sector, as it was thought impossible to deal with this issue through legislation. However, this situation will now change. Directors of public companies will have to become much more answerable to shareholders, a trend which will be reinforced by law. The job of non-executive director will be more clearly defined, and share options will have to be used much more clearly.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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