Is France leading the way on pay?
Monday 29 October 2012
High Pay Centre Offices
32-36 Loman Street
London SE1 0EH
Soon after François Hollande’s election victory in May 2012, the French finance minister Pierre Moscovici announced a raft of measures aimed at reforming company practice and improving business ethics.
The plans included setting a cap of €450,000 pa. on public sector salaries; setting the maximum pay ratio from average employee to chief executive pay at 1:20; limiting supplementary payments such as bonuses; and increasing shareholder power.
This seminar will offer an opportunity to discuss France’s business practice with a focus on François Hollande’s plans for reform. Will this be successful and lead to better business and economic success in France? Can these lessons be applied to the UK model?
We are pleased to announce that Denis Branche, Executive Vice President and Louis Sanchez de Loazada, Legal Director at Phitrust Active Investors. Phitrust is a French asset management company which develops shareholder engagement strategies to promote good corporate governance practices among listed companies and encourages them to develop business strategies that benefit those at the 'bottom of the pyramid'. Mr. Branche and Mr. Lozada will present the situation in France and the context to the pay debate there.
We are also delighted to welcome Axelle Lemaire, Parti Socialiste MP for France’s third constituency for overseas residents since December 2011 who will give us an introduction to President Hollande's plans for reforming executive pay and corporate governance.
We look forward to welcoming many of you to discuss this issue in a European context and to ask what we can learn from the French model.
This event is run in partnership with the Friedrich Ebert Stiftung.
The seminar will take place at the High Pay Centre offices: closest tube stations are Southwark and London Bridge. Map & Directions available here.
This event is free of charge but places are limited. Please send us an email if you wish to attend.
Refreshments will be served.
This event will be the first in a series of events focusing on the pay debate internationally. Look out for seminars on Norway, Japan, Sweden and Germany coming up in 2012-2013.
For full details of High Pay Centre events, please see the website.
Since 1 January 2020 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- COVID19 and corporate resilience
The pandemic is highlighting the deep flaws in the UK’s corporate governance system. Will this prompt listed companies to rethink their priorities? - A blog by Rachel Kay, a researcher at the High Pay Centre
- Executive Compensation: Covid-19—A “New Normal” Or Back To The “Old Normal” by 2022?
A guest blog from Iain Stark, international HR leader and reward expert, on the future of executive pay post COVID19.
- Re-thinking reward: interim High Pay Centre analysis of new pay ratio reports
Our analysis of the first 'pay ratio' reports finds some limitations to the disclosures, but also identifies the potential to raise pay for low earners through redistribution from those at the top