UK: High Pay Centre calls for reforms to performance related pay

The High Pay Centre has published a report titled No Routine Riches - Reforms to Executive Pay: see here (pdf). The report calls for major reforms to performance related pay for directors, including the abolition of long-term incentive plans (LTIPs). LTIPs have, the report argues, driven up executive pay without a corresponding increase in company performance. Other proposed reforms include: diversifying the membership of remuneration committees; requiring annual bonuses to be paid in cash not shares; and limiting the circumstances in which 'golden hello' payments can be made.