After the Finance Ministers at the Council on October 6-7, 2008, the European Council itself now decided to ask the Member States to regulate managers' excessive remuneration, in Brussels on October 15-16. (Ref. 080794)
Paragraph 9 of the Council’s conclusion
states that “managers’ actual performance should reflect in their remuneration,
including golden handshakes which should depend on the managers’ real contribution to the company’s
success.” Likewise, “it is important to check that stock-options’ benefits or
the wage system, notably in the financial sector,
don’t lead to excessive risk taking or focusing on short-term objectives.” Consequently,
the European Council calls upon Member States to “work for the
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