Submitted on Saturday 29th October 2011
Rejected on Wednesday 21st June 2017
Current status: Rejected
Rejection code: duplicate (see below for details)
Give shareholders votes on individual director's pay
After FTSE directors' 49% pay rise, the Companies Act should be amended to:
- give shareholders a binding vote on individual director’s remuneration
- strengthen guidance on remuneration committee membership in order to diversify membership
This e-petition is a response to DBIS' consultation on pay & financial reporting (close Nov 25).
In the words of MP David Davis (Con):
‘Shareholders are presented with a whole package of everybody’s remuneration, so to turn it down is effectively a no confidence vote, so it never happens. One thing the government could do is change the Companies Act and say: you must present everybody above £1m, or the top 10 of your company, to the shareholders. They would have to justify it individually and that would be very difficult indeed.
“What you are seeing is a self-serving coterie. The people who serve on remuneration committees of those companies and approve those numbers are in the same little set as the people who receive the money.”
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
3.147.238.94 Mon, 18 Nov 2024 17:25:44 +0000
