BOSTON/LONDON: The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies' annual meetings this spring.
He said he expected boards to increasingly adopt compensation plans tied to new metrics like worker health or carbon emissions. In a study of roughly 4,800 North American and European companies with some type of pay incentive, roughly 11per cent included an environmental or social metric for the 2018 financial year, voted on at meetings held in 2019, according to leading investor advisory firm Institutional Shareholder Services.
"When management is willing to put their compensation at risk over this, it's going to be a focus," he added.For interactive graphics detailing extracts from the ISS ESG Analytics report, click here https://tmsnrt.rs/2wabbQR and here https://tmsnrt.rs/33n6yPJ. "The coronavirus outbreak will, in principle, have no impact - either way - on the focus that we have on encouraging ESG targets in company executive remuneration plans," said Bill Hartnett, stewardship director at Aberdeen Standard Investments.
One of those in the crosshairs of investors this year is retailer TJX Cos , where CEO Ernie Herrman was paid US$18.8 million in fiscal 2019. That was 1,596 times the median annual pay for all other employees, which includes seasonal and temporary employees.
I feel SO sorry for them! But never fear: I’m quite confident that the consultants will find ways around the attempted impediments!
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