About: http://data.cimple.eu/news-article/24dd6365bc8c0e131a90242287a65e1a6ae11113b8b4103dc10b2e6e

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/24dd6365bc8c0e131a90242287a65e1a6ae11113b8b4103dc10b2e6e Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Pay cuts taken by British bosses during the pandemic will have little effect on the "bonus culture" causing wide inequalities within companies, according to a study published on Wednesday. A total of 36 companies on the FTSE 100, the London Stock Exchange's flagship index, have announced cuts in executive pay due to the economic crisis resulting from the pandemic, the annual report said. It is produced by the Chartered Institute of Personnel and Development (CIPD) and the independent think tank High Pay Centre. But these measures are "superficial or short-term" and do not change the "bonus culture" which allows big bosses to earn huge sums in the variable part of their remuneration, they added. None of the companies implementing the pay cuts have tackled the long-term incentive scheme, which generally makes up around half of executive pay, the analysis said. "It doesn't look like the pandemic has proven to be an inflection point for executive pay yet," said Peter Cheese, Chief Executive of the CIPD. "Pay among the FTSE 100 will probably fall next year, but this is more likely to be due to wider economic circumstances rather than a fundamental change in approach," he added. A FTSE 100 company boss earned an average of £3.61 million in 2019, 119 times higher than the median British salary of £30,353 ($40,00, 33,600 euros). Six companies paid their bosses more than £10 million. Tim Steiner, boss of online food retailer Ocado, was the top earner, raking in £58.7 million. Frenchman Pascal Soriot earned £14.3 million as head of pharmaceutical group AstraZeneca while Ivan Menezes, head of the spirits group Diageo, earned £11.7 million. The study called for more transparency in decision-making on salaries by taking greater account of environmental performance or by appointing an employee representative to remuneration committees. British-based companies with more than 250 employees have been obliged since this year to disclose the salary gap between the CEO and the average employee. And the country has for several years had a "say on pay" system in place, which gives shareholders the opportunity to express their views on executive pay, but without having any binding power. jbo-jwp/jj/rl
schema:headline	Pandemic pay cuts to have little effect on UK's bonus culture: study
schema:mentions	London Stock Exchange FTSE 100 Index Flagship Pharmaceutical industry Tank AstraZeneca Chief executive officer Pandemic United Kingdom Chinese Consolidated Benevolent Association Chartered Institute of Personnel and Development Tim Steiner High Pay Centre Ivan Menezes Bankers' bonuses Ocado Executive compensation Diageo Pascal Soriot Inflection point
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	80 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software