UK - Pension funds have welcomed a decision by music giant EMI to change its executive contracts to curb payoffs in the event of a takeover.
EMI group chairman Eric Nicoli and chief financial officer Roger Faxon – both on one-year rolling contracts – had clauses removed from their contracts that would have allowed for a two-year payoff should they lose their jobs as a result of a takeover of the company.
However, EMI chief executive Alan Levy will retain the takeover clause in his contract.
EMI, the world’s third biggest music company, has seen its shares slide nearly 70% in the past year.
In December last year the NAPF and the ABI revealed a new set of guidelines for payments to failed executives.
The Cost Transparency Initiative (CTI) has launched a number of templates and guidance to help pension schemes deliver greater value for savers with enhanced disclosure of transaction cost information.
Kim Kaveh asks if trustees should be subject to maximum term limits for a particular scheme, after a PP poll showed mixed views on the matter.
In this week's Pensions Buzz we would like to know if you welcome the gentle hand of advanced supervision by The Pensions Regulator (TPR), after Charles Counsell said there will be new regulatory initiatives for 1,000 schemes.
Here they are - the finalists for the Women in Pensions Awards 2019...