Top firms failing salary guidelines
12 April 2012
MANY company directors' salaries and notice periods are still escaping scrutiny by independent non-executive directors, according to a report.
The National Association of Pension Funds findings show 49% of Britain's top 400 companies failed to meet corporate governance recommendations on pay. Of companies surveyed, 40% gave directors' notice periods extended beyond the 12-month ideal limit.
Only 19% of top companies complied with all the best-governance standards although that was double the figure of two years ago. But standards are improving, with compliance rates exceeding 80% in many companies.
