FTSE 100 bosses' pay 'rose 11% last year'
http://www.bbc.co.uk/news/business-17996094
Quote:
The typical pay of bosses at the majority of the UK's largest publicly listed companies rose 11% last year to £3.65m, according to research done on behalf of the BBC.
Manifest, the adviser to shareholders, calculated the research based on data from the 60% of FTSE 100 companies who have published their annual reports.
The news comes amid shareholder revolts over high executive pay.
On Tuesday, insurance firm Aviva said boss Andrew Moss will be leaving.
Pay at firms in the UK in general rose by just 1.1%, according to the Manifest calculations.
While pay rose at big corporations for chief executives and executive chairmen, shares of FTSE 100 firms shed 6.6% of their value last year
"Shareholders are saying that if they're not being enriched, executives should not be sleeping on huge piles of cash," said the BBC's business editor Robert Peston.
"In other words, the trend is of growing activism by shareholders to prevent unmerited rewards, or excessive pay relative to how the business is doing. It is not a campaign against big pay per se."
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Power to the people, power to the people right now :thumbs:
I'm up for bashing the bosses - they've had it far too good for far too long and amassed vast fortunes at the expense of the "lower" classes, just like their forefathers before WWI ..... :hmph:
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