France: framing managers’ pay in businesses helped by the State

10, the managers of businesses which, because of the crisis, were helped by the State or receive public funds will have to give up their stock options and free shares and accept close supervision of their variable and extraordinary pay as well as possible severance pay. These new rules, detailed below, in fact only affect banks, carmakers and a few large public businesses. The government adopted them as a matter of urgency because of the major controversy on excessive pay for some managers....