Business
Future Fund urges ‘pub test’ on executive pay as COVID-19 hits profits – Sydney Morning Herald
The $162 billion Future Fund is urging boards of companies that have slashed jobs during the pandemic to use a “pub test” when setting executive pay.
“Whilst any legitimate decision to cut jobs during this time doesnt need to be explicitly incorporated in executive remuneration outcomes, boards should consider applying a basic pub-test which may suggest that some of the pain felt by staff below executive management ranks should also be applied to the remuneration outcomes of key management personnel,” it said in a recent guidance note published online.
It also said it expected restraint in cash bonuses, told companies not to strip out the im…
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