As a result, May has promised to overhaul corporate governance to try and close a wealth gap that sees bosses being paid more than 140 times what their staff receive. Across the FTSE All-Share index over the same period, 766 votes were completed, with just one failing to gain approval — suggesting fund managers were untroubled by the issue of executive pay. World leader BlackRock has a relatively large team of just over 20 corporate governance and stewardship staff globally, but most rivals have far fewer. “The thing I hear time and time again is ‘we’re stretched,’” said Oliver Parry, head of corporate governance at the Institute of Directors (IoD). May’s plans to disclose the pay ratio between bosses and their employees and bring staff on board mirror actions elsewhere.

Source: Bueno Aires Herald August 23, 2016 04:05 UTC