Impact of EU recommendations on directors’ pay and independence

The European Commission has published two reports on Member States’ application of EU recommendations on company directors’ pay and independence. The report on directors’ remuneration shows that transparency standards are widely followed, but in some Member States it is still not recommended that shareholders vote on this issue. The report on the role of independent non-executive directors finds that there has been real progress in improving governance standards in this field, but some of the rec-ommended standards have not been followed in all countries.