UK - Corporate Governance and Executive Pay - new reporting obligations published

The UK Government is seeking to change corporate behaviour and restore trust in big business by requiring large companies, whether listed or not, to show that they operate responsibly. To this end, it has published new legislation which will require all large companies to report on how they take their key stakeholders into account. Listed companies will also have to disclose their CEO/median UK employee pay ratios and the impact of share price on variable pay. Large privately-held companies will, for the first time, be obliged to report on their corporate governance arrangements.