Time to demand answers on executive excess

Ecclesiastical's Neville White argues it is time to hold company executives to account over renumeration, as the 'shareholder spring' movement gains momentum.

There is a sense of déjà vu at the start of every proxy voting season. The familiar outcry about executive pay is followed by a few token ‘revolts’ and then silence. However, one senses something different this time around; for one thing, the government has firmly set out its stall as part of an industry consultation on policing pay. This makes it very clear that, frustrated by the lack of progress, regulation is on the way. Perhaps more significantly, some investors are publicly beginning to mention the ‘e’ word – excess. It is not surprising institutional investors are reluctant ...