– Mercer has welcomed the Executive Pay Consultation on Enhanced Shareholder Voting Rights issued by the Department for Business Innovation and Skills (BIS), but cautioned a binding vote will not necessarily have the outcome intended. It said shareholders are not a homogenous group and do not all look to the long term – many just sell their shares and walk away.
– A number of high profile chief executives have stepped down from their roles in the past month following shareholder pressure over performance and executive pay structures. Insurer Aviva saw chief executive Andrew Moss step down, while Trinity Mirror’s Sly Bailey and AstraZeneca’s David Brennan also stepped down for similar reasons. Elsewhere, Barclays was criticised for Bob Diamond’s £17.7m pay package.
– Business insurance specialist QBE has achieved the National Association of Pension Funds’ Pension Quality Mark (PQM) for its defined contribution staff pension scheme. The PQM is the standard awarded to employers who
provide good-quality DC pensions to their members of staff.
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