Church of England: we’ll vote to block excessive boardroom pay deals | Business | The Guardian

The Church of England, a major institutional investor, has put UK company bosses on notice that exorbitant pay deals will not be tolerated.<P><P>The Church Investors Group, which unites the Church of England and 58 related charities and organisations managing a combined £17bn, has written to the 350 biggest companies on the stock market to set out how it intends to vote at this year’s annual general meeting season.It is joining the chorus of voices expressing concern about executive pay in a year in which large numbers of companies are putting their bonus deals to a binding vote – rather than an advisory one – at their AGMs.<P><P>“We voted against two-thirds of remuneration reports that were proposed last year,” said Adam Matthews, head of engagement for the Church Commissioners – an investment fund manager that is a member of the Church Investors Group – and Church of England Pensions Board.<P><P>“We’re saying that when we see pay policies that aren’t justified we will vote against them. We want to see greater use of discretion by remuneration committees.”

Source: Church of England: we’ll vote to block excessive boardroom pay deals | Business | The Guardian

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s