Summary
THE first British pay row was at the 1982 annual meeting of BOC, the gases giant. Investor complaints that the salary of the chief executive Richard Giordano was "enormous" and "obscene" stunned the City: executive pay was considered the business of the board, not fund managers.
It took another 12 years - and another Giordano pay deal - to crystalise the debate over "corporate fat-cattery". This time Giordano, who was also part-time chairman of British Gas, oversaw a 75pc pay rise for chief executive Cedric Brown to pounds 475,000 - at the same time as a sharp increase in household bills.See the full content of this document
Extract
Executive Pay Packets That Made Headlines
Union leaders hijacked the company's annual meeting by bringing...
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