DTI focuses on executive pay.
The government favours rolling one-year contracts for executives to prevent huge pay-offs if they resign. Some abuses were targeted by changes to the Stock Exchange listing rules that gave independent non-executive directors more control over executive pay. The government wanted to let the most recent corporate governance changes bed in, Hewitt said. "But we will be watching this year's AGM season closely. If further action is needed to strengthen the hand of shareholders, we will take it."
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|Title Annotation:||Regulations Update; Department of Trade and Industry|
|Publication:||Financial Management (UK)|
|Article Type:||Brief Article|
|Date:||Apr 1, 2004|
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