EDITORIAL: Give investors more say on executive pay
Regulations that call for shareholders to be given a say are far too soft
07 August 2020 - 05:10
With about 24% of Pick n Pay shareholders expressing dissent on the company’s executive pay report at an annual shareholder meeting this week, the food retailer narrowly avoided triggering a JSE rule that would require it to take steps to address their concerns.
Other than shining an unforgiving spotlight on the company’s operational and stock market performance, the vote, which is non-binding, also underlined the limitations of the rule for shareholders to exercise real influence on lavish executive remuneration...
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