CLW 201- COMPANY LAW COURSEWORK QUESTION – UK TRANSFER PROGRAMME (LAW)

In the UK, the study of pay data reveals that total pay for the median chief executive officer (CEO) of a FTSE 350 company increased by 82 per cent in real terms over the period 2003–2014/15.

There have been some controversial pay raises among the CEOs recently. For example, remuneration package of Pascal Soriot—a CEO of Astra Zeneca Plc—rose by almost £5 million to £13 million in 2016 and pay package of Carnival Plc’s Arnold Donald rose from£6 million to £22 million in 2016 (despite the fact that Carnival Plc was ordered to pay £32 million in penalty charges relating to its deliberate pollution of the seas and intentional acts to cover it up).

According to the latest High Pay Centre Report, the median pay including bonuses for a FTSE 100 chief executive was £3.926m in 2017, the most recent year for which data is available.

The remuneration and compensation of chief executive officers and executive directors is a source of continuing controversy. A key complaint is that it is insufficiently focused on the long-term goals and plans, leading to reckless, short-term decision-making by executives, as it pays off for them to secure immediate benefits.

Discuss.

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