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Government proposals for corporate governance reform

Makbool Javaid

The Government has launched a consultation on measures to strengthen corporate governance, seeking views on options to strengthen worker ‘voice’ in the boardroom and reform executive pay. The proposals from part of the Government’s strategy to help ensure that the UK has an economy that works for everyone. The proposals set out a range of options for strengthening shareholder influence over directors’ remuneration. Key proposals relating to executive pay and ‘employee voice in boardrooms, include: (i) Reporting ratios comparing CEO pay to pay in the wider company workforce (publication of this ratio will, in fact, become a requirement for listed companies in the US from January 2017); and (ii) Company boards creating stakeholder advisory panels to provide feedback to directors, or appointing individual stakeholder representatives to company boards.

The aim of this update is to provide summary information and comment on the subject areas covered. In particular, where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented by the parties and the judgments made in every aspect of the case. Click on the links provided to access full details. If no link is provided, contact us for further details.  Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, SM&B cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.

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