High Pay Centre calls for fixing of pay regulations

The High Pay Centre is calling for ‘flaws’ in the 2013 regulations on executive pay to be fixed and for a return to the principle that ‘reward follows performance’. In its response to the interim report of the Executive Remuneration Working Group, the Centre also calls for the governance of remuneration to be aligned with the legal financial governance framework.

It also calls for the removal of all formal obstacles to the use of retrospective discretion by remuneration committees and for representatives of the ‘genuine’ long-term economic interests of a company to be involved in the process for determining executive pay.