Executive remuneration in Australia

by Allan Fels, for Australian Plicy Online, January 5, 2010.

This report recommends that corporate governance should be strengthened through the introduction of independent remuneration committees, measures to promote board accountability and shareholder engagement, enhanced pay disclosure and increased pressure on those boards that are unresponsive to shareholder concerns.

Strong growth in executive remuneration from the 1990s to 2007, and instances of large payments despite poor company performance, have fuelled community concerns that executive remuneration is out of control. Pay for CEOs of the top 100 companies appears to have grown most strongly, at 13 per cent real a year, from the mid-90s to 2000, and then increased by around 6 per cent annually in real terms to 2007. Since 2007 average remuneration has fallen by around 16 per cent a year, returning it to 2004-05 levels…(continue reading)

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