The executive pay racket is anti-business – it’s time for a clampdown

Every so often something unexpected, and actually quite good, happens. A Brit finally wins Wimbledon. Mobile phones all get the same charger. Cars use far less petrol. And, perhaps most unexpected of all, executive pay finally starts to come under some form of control.

After a decade during which the pay of FTSE chief executives spiralled out of control, the trend has now gone into reverse. Thanks in part to the so-called ‘shareholder spring’ of two years ago, when a series of big revolts were recorded against ludicrous packages, average CEO pay has now been falling for two years in [...]

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