The Purposeful Company is a UK consortium that proposes evidence-based reforms to embed purpose into the heart of business (I serve on its five-person Steering Group). In October 2019, it released a study on reforming executive pay by replacing complex …
CEO Sells Shares Just Before Departure; New Employer Cancels Appointment
In early September 2019, Dutch telecoms firm KPN announced the appointment of Dominique Leroy as new CEO, to start in December. Leroy had been in charge of Belgian telecoms company Proximus for five years but sought a new challenge. However, …
Smith & Nephew CEO Quits Over Low Pay; Shares Fall 9%
On 21 October 2019, Namal Nawana, the CEO of UK medical devices firm Smith & Nephew, resigned after 18 months at the helm because he wasn’t being paid enough. The stock price fell by 9% on the announcement, translating to …
US and UK Investor Bodies Support Simpler, Long-Term Pay Schemes
US Council of Institutional Investors Policy on Executive Pay In September 2019, the Council of Institutional Investors, an influential association of US pension funds, foundations, and endowments, overhauled its policy on executive pay. The recommendations are broadly in line with Chapter 5 …