The boss of the Institute of Directors will on Monday warn top bosses that the vote for Brexit and the election of Donald Trump will result in greater scrutiny of boardroom behaviour and executive pay. The pay of FTSE 100 bosses has rocketed from an average of £1m in 1998 to £4.3m in 2015, far outstripping growth in average pay. It would be foolish now for companies to close ranks and defend the high pay status quo. He is expected to point to the £14m pay deal for Bob Dudley, chief executive at BP, which was voted down at this year’s annual shareholder meeting in April. He will describe Sir Martin Sorrell – chief executive of WPP – as “the ultimate superstar CEO”.

Source: The Guardian November 28, 2016 00:01 UTC