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Give shareholders rights to decrease executive pay on any vote to increase executive pay

Submitted on Thursday 14th June 2012

Published on Friday 15th June 2012

Current status: Closed

Closed: Saturday 15th June 2013

Signatures: 3

Tagged with

Law

Petition Action

Give shareholders rights to decrease executive pay on any vote to increase executive pay

Additional Information

If a company wishes to propose a pay increase for the any of the Board members (to their shareholders) they must be mandated to also offer the decision, to instead reduce the Board’s pay by an amount equal to the proposed increase.

So for example if company X proposes that the Board's pay should be increased 7%. Currently as a shareholder you can vote

yes - agree and a pay rise of 7%
no - and no change in pay

I propose there should be a third choice manadated by law.

yes - agree with a pay rise of 7%
no - disagree with no change in pay
no - disagree with a pay reduction of 7%


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