Wednesday, 2 February 2011

UK: the composition of remuneration committees

Lord Sassoon, the Commercial Secretary to the Treasury, was yesterday asked in Parliament whether he was content with the composition of remuneration committees and whether he believed there was a case for a greater diversity of membership. Lord Sassoon offered no opinion but responded thus (Hansard, 1 Feb 2011, Column 1304):

... the Financial Reporting Council continues actively to consider a range of ideas for improving corporate governance, and of course in recent months there has been the UK Stewardship Code and a revision of the UK Corporate Governance Code. I think that the Financial Reporting Council listens to all good ideas for improving corporate governance and is actively on the case".

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