Paul Ellerman, Mark Ife and Jemima Coleman explain the new regime for disclosure and shareholder approval of directors' remuneration for listed companies in this article, first published in the October 2013 edition of PLC Magazine.
The new regime applies to remuneration payments to both executive and non-executive directors of all UK-incorporated quoted companies. The first companies to be affected by the new requirements are those with a 30 September year end. The new requirements introduce a new format for the Directors' Remuneration Report including an annual statement by the chair of the remuneration committee, an annual report on remuneration (including the single total figure for remuneration) and a directors' remuneration policy, which sets out the company's forward-looking policy on remuneration and potential payments.
Key contacts
Samantha Brown
Managing Partner, Employment, Pensions and Incentives, UK and EMEA, London
Steve Bell
Managing Partner, Employment, Industrial Relations and Safety, Asia and Australia, Melbourne
Emma Rohsler
Partner, Head of Employment, Pensions and Incentives, EMEA, Paris
Tim Leaver
Partner, London
Andrew Taggart
Partner, London
Fatim Jumabhoy
Partner, Head of Employment & Workplace Investigations, Asia, Singapore
Barbara Roth
Partner, New York
Christine Young
Partner, 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.