A loud cheer to the British business secretary, Mr. Vince Cable, who attempts to reform governance for public companies: 1) Binding votes to shareholders on the company's pay policy and on pay-outs to departing; 2) Claw-backs on executive pay when they failed; 3) Transparency over pay - one figure to be published (while having the number explained) and having it compared with other pay-outs such as dividends; 4) Shake out boards by hiring non-executives from a broader pool of academics, public servants, etc. Financial Times has the article.
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