Vince Cable hands shareholders power to tackle executive pay
Vince Cable faced stinging criticism from unions for rejecting calls to put employees at the heart of proposals to tackle soaring executive pay and instead putting the onus on shareholders to restrain multimillion pound deals.
Forced to outline his plans on executive pay a day early because of intervention from his Labour shadow, Chuka Umunna, the business secretary said he would give shareholders a binding vote on executive pay deals and try to clamp down on rewards for failure by requiring a vote on payoffs of more than a year's salary.
But while some City pay experts welcomed Cable's proposals, campaigners against high pay were not convinced.
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"Vince Cable hands shareholders power to tackle executive pay", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), janvier 2012. Consulté le 25/09/2023. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/vince-cable-hands-shareholders-power-to-tackle-executive-pay