Listed UK firms must say why average CE earns 386 times more than minimum wage worker
London — Listed British companies will have to justify the gap in salaries between their average worker and the CEO, under proposed new rules that fall short of Prime Minister Theresa May’s initial plan to tackle soaring executive pay. May came into power after the 2016 Brexit vote, vowing to tackle what she called the "unacceptable face" of capitalism, including pay gaps and mismanaged takeovers, that had driven a wedge between British bosses and their workers. But her initial proposals to put workers on boards and give shareholders binding votes on executive pay have been watered down as her position has weakened. Campaigners and investors were divided over whether the greater transparency would be enough to force companies to curb pay excesses. "I am afraid that the government has bottled it in the face of business lobbying," Frances O’Grady, the head of the Trades Union Congress, told BBC Radio. According to campaign group the Equality Trust, the CEOs of companies in the FTSE 10...
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