Wednesday 14 November 2012
Debate on executive pay - Deborah Hargreaves of the High Pay Centre and Andrew Taggart, head of employment law at Herbert Smith Freehills, discuss the issues surrounding executive pay.
00.00 Introduction and statistics on executive pay
01.45 'Is there a problem that needs addressing?' - Andrew Taggart. The need for transparency
02.42 'Is it a question of pay for performance or pay per se?' Deborah Hargreaves.
04.00 Promoting performance-related pay - Andrew Taggart
04.40 Short termism in performance-related pay
05.10 Measuring long-term performance
05.37 'Total Shareholder Return' - Andrew Taggart
07.00 Complexities of multiple incentive types - need for simplification - Deborah Hargreaves
08.18 Simplification and transparency - Andrew Taggart
08.30 'Single figure remuneration proposal'
09.00 Pay awarded v pay received
10.48 Problems with transparency inflating wages
12.30 Remuneration committees - role and behaviour; proposed reforms
14.30 Employees on boards
15.00 Opening dialogue between employees at all levels, and board members
15.30 German model - two boards, one decision-making and one ratifying - Andrew Taggart
17.00 Remuneration consultants - Deborah Hargreaves
18.00 Confidentiality concerns - Andrew Taggart
22.40 Importance of communication within companies
24.12 Clawback and executive pay; the law
27.00 Shareholder involvement - level of involvement
29.15 What about institutional investors with short-term interests?
29.45 Pension funds
31.00 Remuneration consultants
36.00 'Is high executive pay bad for society?'
40.40 Importance of communicating on why pay is at the level it is at, and eradicating reward for failure.
41.00 Possibility of alternative rewards/structure than purely financial?