Shareholders having a “Say on Pay” is gaining momentum globally, raising the standards of remuneration disclosures. If Singapore companies do not improve remuneration disclosures, then investors could prompt regulators to consider introducing Say on Pay.
The call for shareholders to vote on executive salaries – or simply, Say on Pay – has been gaining traction in most western jurisdictions in the aftermath of the global financial crisis of 2008. This has been driven in large part by the perception of excessive executive pay, particularly in the financial services sector.
In recent years, the social and political changes have given fresh impetus to improve corporate governance and remuneration-related disclosures.
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