Patel's proposals on pay will let shareholders hold boards 'to ransom', say directors

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Binding votes and the removal of remuneration committee directors would go too far, say company directors.

The Institute of Directors and the King Committee on Corporate Governance strongly disagree with many of the new proposals by the government around the reporting and regulation of remuneration levels for listed companies and state-owned

enterprises, they said in a statement on Thursday. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Source: News Formal (newsformal.com)

 

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