In July 2019, the GC100 and Investor Group published an updated version of its Directors' Remuneration Reporting Guidance. The guidance has been updated to reflect the amendments made by The Companies (Directors' Remuneration Policy and Directors' Remuneration Report) Regulations 2019 (SI 2019/970), which implemented the remuneration aspects of the EU Shareholder Rights Amending Directive (Directive EU/2017/828) (SRD II).
Key changes include:
- Percentage change in remuneration – Disclosure of the percentage change in relation to the remuneration of each director each year is now required. The guidance includes a discussion of the implications of this requirement.
- Conflicts of interest – The guidance discusses measures that could be taken to avoid or manage conflicts of interest in relation to the remuneration policy in light of the new reporting requirements.
- Chief Executive Officer – The remuneration of any CEO and deputy CEO, who is not a director of the company, is now subject to the directors' remuneration policy and must be reported in the remuneration report.
Sarah Hawes
Head of Corporate Knowledge, UK, London
Greg Mulley
Partner, London
Gareth Sykes
Partner, Head of Corporate Governance Advisory, UK, London
Caroline Rae
Partner, London
Ben Ward
Consultant, London
Stephen Wilkinson
Consultant, London
Key contacts
Sarah Hawes
Head of Corporate Knowledge, UK, London
Greg Mulley
Partner, London
Gareth Sykes
Partner, Head of Corporate Governance Advisory, UK, London
Caroline Rae
Partner, London
Ben Ward
Consultant, London
Stephen Wilkinson
Consultant, London
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.