Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-02-19-Speech-2-286"
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"en.20080219.31.2-286"2
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"Management pay is a topical issue and has been for quite some time. In reaction, the Commission has taken steps to increase transparency regarding management pay.
The Commission recommendation adopted in 2004 provides for annual disclosure regarding both the company policy on directors’ remuneration and the remuneration of individual directors. The Commission has also followed up on this recommendation by checking whether it is actually applied by Member States. We have recently made an overview of this.
The large majority of Member States have introduced high disclosure standards on the remuneration of individual executives in their national corporate governance code or in binding legislation. However, only around 60% of Member States have followed the recommendation as regards transparency on their remuneration policy. Only a very few recommend putting this to the vote in the company’s general meeting. There is scope for improvement here.
The Commission will also evaluate the extent to which companies adhere to the recommended transparency standards in practice. Remuneration is a field in which some companies have shown strong reluctance to disclose information, despite the recommendations of the national corporate governance code. We will look into this question."@en1
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