The Employee Share Ownership Centre
David Cameron backed calls to give shareholders a binding vote on remuneration reports earlier this month. The PM said that “the market for top people isn’t working” and “needs to be sorted out” as “there’s too many cases of remuneration committee members, sitting on each other’s boards, patting each other’s backs, and handing out each other’s pay rises.” Mr Cameron is expected to call for a ‘genuinely inclusive and popular capitalism’ in a speech later this week which may address top pay and employee share ownership. BBC business editor Robert Peston questioned whether these claims were accurate saying that only 20 FTSE 100 directors sit on the remuneration committees of other FTSE 100 companies.
