European unions urge EU to curb executive rewards

coalition of European union groups, including the TUC, is urging the European
Commission and the UK, German and Dutch governments to place curbs on executive

TUC claims that company boards that award themselves large pay rises without
any clear link to performance are creating a crisis of confidence among
customers, staff and shareholders.

union groups are calling for full details of the reward packages of every
member of an executive board to be published in annual business reports.

are also calling for company supervisory boards to discuss and decide on the
structure and amount of all remuneration parts that are fixed and variable,
such as retirement schemes.

TUC claims these decisions can only be prepared by relevant subcommittees once
staff representatives are involved.

the proposals, members of supervisory councils would have the option to
establish a limitation on stock options, which are sometimes part of the
remuneration package.

general secretary Brendan Barber said: "There is a concern that we are in
danger of seeing American-style practices applied across many businesses. We
must resist the American way."

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