On Tuesday 29 November, UK PM Theresa May unveiled proposals for the government’s future corporate governance reforms. In particular the PM intends for measures to put an end to excessive pay and scandals. In a bid for more transparency the PM is proposing that Britain’s largest companies could be forced to reveal the pay gap between their chief executives and average workers.
“We will build an economy that works for everyone, not just the privileged few, because “clearly in recent years a handful of companies have acted acting carelessly ruining the reputation of others,” argued Theresa May when she unveiled the green paper on a UK Corporate Governance Code.
One of the key proposals of the document is giving shareholders more say in executive pay, to the extent that they would have an annual binding vote allowing them to veto executive pay packages. Currently shareho
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