Germany: Hermes calls for say on pay

It is reported in today's Financial Times that Hermes is calling for Germany to provide shareholders with an advisory vote over directors' remuneration. The report also notes concerns over the pay of supervisory board members at Siemens and the company's lack of consultation with shareholders. Siemens' annual meeting takes place today. The proposed pay for supervisory board members, outlined in the meeting notice, has proved controversial because it includes a variable element linked to the company's performance.