The first such reports must be published in 2020, covering pay awarded in 2019.
All large companies will also be required to report on how their directors take employee and other stakeholder interests into account and to report on their corporate governance arrangements.
These reforms form part of the Government’s industrial strategy and are designed to address public concerns over the level of CEO salaries and also to give
employees a greater influence over boardroom decisions.
The Government has published a set of FAQs on the new reporting requirements.
The content of this article is for general information only. For further information please contact Liz Stevens or a member of Birketts' Employment Law Team.
This article is from the winter 2019 edition of Inside Out, our newsletter for those with an interest in corporate and commercial services. To download the latest issue, please visit the newsletter section of our website. Law covered as at January 2019.
To keep up-to-date with the latest news, legal updates and seminar information, please register and select the areas that are of interest to you.