FTSE bosses’ wages plunge during pandemic Business

Matthew Lesh, Head of Research at the Adam Smith Institute, said: “Generous compensation is necessary to attract the best talent who deliver innovative products, create jobs and enhance company value. Investors are notorious for reacting violently to a change in CEOs, as leadership is the key to business success.

“The obsession with CEO pay does nothing to increase revenue. As the economy recovers from Covid-19, we should adopt policies that will increase the wages of all workers. “

The High Pay Center, which conducted the latest research on board salaries, said the average CEO still earned 86 times the median earnings of ordinary UK workers last year.

The group added that nine companies which drew on taxpayer money through the government’s leave scheme also paid their CEOs an average of £ 2.2million.

Executive pay has become a priority during the pandemic, with millions of workers on leave or facing an uncertain future, and some companies suffering an unprecedented impact on their revenues and profits.

Some activists and politicians have argued that business owners who have appealed to government support programs should not subsequently receive seven-figure salaries and bonuses.

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This notice was published: 2021-08-19 04:00:00

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