Former Greggs CEO calls for executive pay reform
As reported in the Guardian today the former CEO of Greggs, Sir Mike Darrington has become the first senior executive to break ranks with his peers and attack levels of boardroom pay. Darrington, who was knighted in 2004 for services to business, has pledged to use his retirement to campaign against excessive boardroom pay deals. He hopes to encourage other like-minded business leaders to offer a critical perspective from inside the executive world.
In particular Darrington, 69, is keen to scotch the myth that attacks on executive rewards are attacks on business. “It is a smokescreen and a lot of bollocks – it is the greed of the people [at the top] that is anti-business.”
Read the full article here, or download the speech below.