"We must also make it less risky to employ people as well and make it cheaper too."
Too right. There must be a cheaper way...
"Executive pay has spiralled out of control because nearly half of remuneration committee members are either serving or former company bosses, according to a report by the High Pay Centre.
Nine current FTSE 100 chief executives, including Smith Group's Philip Bowman, Kingfisher's Ian Cheshire, Diageo's Paul Welsh and Centrica's Sam Laidlaw sit on the remuneration committees of fellow blue chip companies.
The committees, which set chief executives' pay, succumb to "group-think" because they are dominated by a "closed shop" of highly paid current and former directors who benefit personally from rising pay levels, the campaign group said.
The average pay of a FTSE 100 boss now stands at £4.2m, according the employment research group IDS. On Friday, it emerged that the former Reckitt Benckiser chief executive Bart Becht, who stepped down in September, had been paid £12.1m last year in cash and shares. The company behind Cillit Bang and Vanish paid him cash and shares worth £203m in six years, and he could still be in line for staggered payouts worth £45m in future years..."
The full Guardian article...
http://www.guardian.co.uk/business/2012/apr/02/executive-pay-ftse-firms
And the home page of the 'High Pay Centre'...
http://www.highpaycentre.org/