The UK's National Association of Pension Funds (NAPF) has urged its members to lobby the top 750 companies in a fresh campaign over corporate remuneration.
In a letter to NAPF members, Alan Rubenstein, chairman of the NAPF investment committee says that members who wish to show support for better corporate governance, should write to the top 750 companies in the UK. The letter also backs moves that companies should be encouraged to put their directors remuneration reports to a vote by shareholders.
The move follows a similar letter from a group of investors - which together hold more than 5% of the UK stockmarket - that stated that “matters of executive remuneration be subject to regular review and approval by shareholders.”
By Janet Du Chenne
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Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point