Opposition to pay gap disclosure echoes business' strident campaign against the JSE’s plan for remuneration disclosure back in 2002. In that time, there has been no pause in the precipitous surge in executive pay awards. Currently, the parameters of executive pay are totally dependent on the machinations of remuneration committee members and remuneration consultants. In the US, which leads the world in the peaking of executive pay, CEOs earned around 42 times the pay of the average worker in 1980. The prospect of being dropped from the remuneration committee for three years, gives them some reason to consider these potential consequences.

Source: News 24 October 08, 2023 12:19 UTC