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Good Governance Forum on executive pay with Keith Hamill OBE

29th September 2015 @ 4:00 pm - 8:00 pm

Members only event

Executive pay – what list of criteria for pay structures would be acceptable to management, shareholders and the public?

Executive pay is often cited as one of the greatest challenges for a board by senior management and non-execs. This has emerged as a theme in the Tomorrow’s Company Futures Project. This is because of a tension between a desire to reward performance against the damage to public trust. In addition there is evidence that current pay structures are not actually leading to improved company performance.

This discussion looked at what would be the key elements within a pay structure that would be acceptable to management, shareholders, the board and the public. The idea was to draw up a best practice structure that forward thinking individuals could support.

Keith Hamill OBE gave a speech on the dilemmas surrounding executive pay and the respective merits of voluntary codes, government legislation or decisions by boards. This was followed by a discussion about the role the board can take on executive pay.

Keith Hamill OBE was previously Chief Financial Officer of Forte Plc 1993-1996 and WH Smith 1996-2000. Since then he has served as a non-executive director and chairman of a number of private and listed companies. Notably he was a non-exec director of EasyJet, Samsonite, and a Chairman of Tullet Prebon, Travelodge and Go.

 

Futures Project conclusions – How does the board ensure the company is adhering to the principles of the inclusive approach?

As part of The Futures Project, our main research project for the year, we looked to remake the case for what Tomorrow’s Company calls the inclusive approach. This is a business approach based on a clear purpose, reciprocal relationships with key stakeholders and a long-term view. As part of this we want to develop a more objective assessment of what characteristics such an ‘inclusive’ company has. In essence how the three principles are applied in practice.

You can find more information about the Futures Project and download the report here.

If you are interested in attending this forum and are not a member, please speak to Alex Maitland about our membership: alexm@tomorrowscompany.com

Details

Date:
29th September 2015
Time:
4:00 pm - 8:00 pm