The BIS has published a consultation paper setting out proposals to give shareholders more influence on the issue of executive remuneration of directors in UK incorporated quoted companies through improved voting rights, which includes binding votes on future remuneration policy and exit payments of more than one year’s base salary. The consultation is seeking evidence on the likely impact, costs, benefits and behavioural effects of the proposals. One of the aims is to enable shareholders to prevent rewards for poor performance or failure.
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