Greenbury prepares for attacks from all sides

Article Abstract:

Sir Richard Greenbury, chairman of Marks and Spencer, has had to deal with many difficult moral issues while heading the government review committee on salary levels of top executives. He finds it hard to justify his own salary, only pointing out that Marks and Spencer is the most successul retailing company in Europe, and acknowledges that nurses and teachers, for example, appear to be underpaid in comparison with people working in business. He believes that the committee's report will be seen by some as going too far and by others as not going far enough.

Interview, Greenbury, Richard

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The Greenbury effect - is it pushing pay higher?

Article Abstract:

Many people believed that the Greenbury regulations which oblige companies to make full disclosure of the pay of their leading executives would eliminate some of the largest remuneration packages, as companies would feel too embarrassed to admit to paying executives very large sums. However, some observers feel that this approach is actually encouraging pay rises, as so much detail is now being given about remuneration packages. Furthermore, it is also claimed that publishing extensive detail is making executives nervous and restless.

Laws, regulations and rules, Column, Disclosure statements (Accounting)

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'Fat cat' squabble over Grid sell-off

Article Abstract:

The sale of the National Grid will allow plans for a 50 pounds sterling rebate on the bill of each electricity consumer to go ahead. However, there is still controversy about the salary levels of top executives at the National Grid. Directors have not been willing to agree to abandon special dividends to which they will be entitled when the flotation goes ahead in Dec 1995. This has brought them into conflict with the government, for which the issue is extremely embarrassing.

Management, National Grid Company PLC

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