Bowles slams IoD on exec pay
Friday 6 January 2012 - by Karina Whalley
The chair of the European Parliament's Economic and Monetary Affairs Committee said on Friday the comments were "outrageous" and called for employees to be included in salary decision-making.
Rising executive pay for company directors is still a contentious issue, in particular the ability of senior business figures to sit on company boards and set each others' pay packages.
In the European Parliament, remuneration, shareholder approval and transparency are current hot topics and Bowles has put forward various proposals during the consultation phase.
"The line that the buck stops with company directors is a fallacy," she said, "they get the bucks and it is employees who lose their jobs when bad decisions are made.
"It is thousands of hard working people who make companies successful. They, in turn, should have a say on pay increases for the boardroom few."
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