Press Release: Give shareholders more say on directors’ pay, urge Legal Affairs Committee MEPs

The European Parliament's legal affairs committee approved a draft law empowering shareholders to vote on directors’ remuneration. They did so to ensure proper transparency and tie their pay more closely to their performance.

The memebers of the committee also considered that some large companies should be required to disclose, country by country, information on tax rulings, taxes paid and public subsidies received.

The proposal was launched by the European Commission in April 2014 as part of the corporate governance package. The committee approved a mandate for the start of negotiations with the Council of the European Union.

• Primary Source

ESO: Background information: European Commission proposes to strengthen shareholder engagement and introduce a 'say on pay' for Europe’s largest companies http://www.europeansources.info/record/press-release-european-commission-proposes-to-strengthen-shareholder-engagement-and-introduce-a-say-on-pay-for-europes-largest-companies/

EurActiv, 08.05.15: EU lawmakers back rewards for long-term shareholders http://www.euractiv.com/sections/euro-finance/eu-lawmakers-back-rewards-long-term-shareholders-314439

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