CEO pay bears no resemblance to performance or economic reality

Published on Friday, 28 October 2011 11:21

Posted by Scott Buckler

Commenting on the directors' pay report published today (Friday) by Incomes Data Services (IDS), TUC General Secretary Brendan Barber said

'With the FTSE 100 down on last year and most staff getting pay rises of less than two per cent, these bumper settlements prove that CEO pay bears no resemblance to performance or economic reality.

'Top directors have used tough business conditions to impose real wage cuts, which have hit people's living standards and the wider economy, but have shown no such restraint with their own pay.

'Boardroom pay rewards are a brazen stitch-up. Reform should start with employee representation on remuneration committees, which would give directors a much-needed sense of reality.'

Source: TUC