BusinessCompany NewsABI to clamp down on directors’ pay

ABI to clamp down on directors' pay

Association of British Insurers to highlight individual directors with excessive pay

The Association of British
Insurers
, the UK’s most influential investor group, will single
out individual directors it believes are receiving excessive pay packages
without undergoing robust assessments.

For the first time, the ABI will issue colour-coded alerts when it believes
that directors do not do enough to justify their pay packages,
the Sunday
Times
reports.

The worst rating a director can receive is a ‘red top’, which suggests that
investors should vote against the pay package.

‘We are seeing an increasing number of poorly argued cases where there have
been substantial increases and extensions to remuneration policies, and
shareholders are simply told that this is in line with various benchmarks and
competitors,’ said
Peter
Montagnon
, director of investment affairs at the ABI.

Further reading:

Association of British Insurers pans FRS17

Non-execs earn their keep

Pay should be linked to success

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