Lessons From the United Kingdom: The Impact of Disclosure on Executive Pay Workshop Code: E19W1
U.K. executive pay disclosure legislation was introduced in 2002 requiring full disclosure of the entire remuneration package of executive directors and disclosure of company compensation policies for the next several years. In addition, the compensation committee report is put to a shareholder vote annually, which has given increased power to shareholders. In this presentation, participants learn from U.K. practice over the past five years, which offers insight into what the new SEC reporting regulations mean in practice. Speakers Alan Judes and Kevin Stacey offer first-hand information on how this has changed organizational behavior in the United Kingdom and offer insights into where future legislation in the United States and the United Kingdom may be headed.
Focus Level: Strategic/Tactical--60/40
Alan M. Judes, Partner, Strategic Remuneration, and Kevin Stacey, Head of Reward, Old Mutual
Speaker: Alan Judes, Strategic Remuneration (UK) Speaker: Fred Whittlesey, Compensation Venture Group (US)
For over twenty years, shareholders and their advisers have issued policy statements on executive and equity-based compensation. In both the US and UK, institutional shareholders, proxy advisors, labor unions, pension funds, and various watchdog groups have developed unique policy positions creating a landscape of inconsistent and often contradictory standards. This session describes and contrasts the major organizations in each nation, their policy positions and underlying philosophies, how national culture affects compensation culture, and the effects on equity plan design now and in the future.
Attendees will hear summary and interpretation of the policy details behind the pay controversy including the reaction to the information revealed by the new SEC disclosure rules and how next year's policies may be influenced. Examples of specific policies and voting recommendations from firms such as ISS/RREV, ABI, NAPF, and others will be discussed.
ECEO 19th employee equity forum CANNES -Thursday July 5 & Friday July 6, 2007
Case study: an international employee share plan in action · This concerns a leading property group, Lend Lease Corporation, which operates in four continents, and which is integrated with strong investment management and construction management businesses · The client's motives for setting up the arrangements, the provision of advice and logistics, why shares and not options were used, tax efficiency for all employees, participation rates, the work of the trustee, administration and other issues in different jurisdictions, what happened when the company wished to merge with a unit trust using a share stapling technique and what the future may hold ALAN JUDES - STRATEGIC REMUNERATION CHARLES COOPER - BWCI TRUST COMPANY LTD
Lessons From the United Kingdom: The Impact of Disclosure on Executive Pay
