BlackRock is taking a tougher stance on executive pay, demanding an end to pay awards that outpace those of the ordinary workforce.
According to the Financial Times, the demands are detailed in a letter that was sent to the chairmen of all FTSE 350 companies. Around half of these companies will face binding votes, where shareholders have the final say on executive pay, in 2017 and it is feared there could be further shareholder revolts on the matter. Shareholders rebel against FTSE 100 pay packages amid 'bruising' AGM season As well as pay changes, BlackRock also wants pension packages granted to top executives to be "in line with the rest of the workforce" and for executive pay increases to reflect those of th...
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