London — British businesses must overhaul their executive pay and perks to rebuild public trust after a spate of corporate scandals, MPs said on Wednesday. A report by parliament’s business, energy and industrial strategy committee said companies should publish pay ratios annually, give workers a seat on the committee that sets pay and have women make up half of all new senior and executive level appointments from 2020. Executive pay is a hot political topic in Britain after Prime Minister Theresa May campaigned to help those who voted for Brexit in protest at "out of touch" elites. Corporate scandals such as the collapse of retailer BHS, which was sold to a serial bankrupt with no retail experience, have fuelled mistrust of well-paid company bosses during a period of mediocre wage growth for most Britons.
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