{"links":{"self":"https://preview.epetitions.website/archived/petitions/20745.json"},"data":{"type":"archived-petition","id":20745,"parliament":{"period":"2010-2015","government":"Conservative – Liberal Democrat coalition","dissolution_at":"2015-03-30T23:59:59.000+01:00","response_threshold":10000,"debate_threshold":100000},"attributes":{"action":"Give shareholders votes on individual director's pay","background":null,"additional_details":"After FTSE directors' 49% pay rise, the Companies Act should be amended to:\r\n\r\n-\tgive shareholders a binding vote on individual director’s remuneration\r\n-\tstrengthen guidance on remuneration committee membership in order to diversify membership\r\n\r\nThis e-petition is a response to DBIS' consultation on pay & financial reporting (close Nov 25).\r\n\r\nIn the words of MP David Davis (Con):\r\n\r\n‘Shareholders are presented with a whole package of everybody’s remuneration, so to turn it down is effectively a no confidence vote, so it never happens. One thing the government could do is change the Companies Act and say: you must present everybody above £1m, or the top 10 of your company, to the shareholders. They would have to justify it individually and that would be very difficult indeed.\r\n\r\n“What you are seeing is a self-serving coterie. The people who serve on remuneration committees of those companies and approve those numbers are in the same little set as the people who receive the money.”","committee_note":null,"state":"rejected","signature_count":1,"created_at":"2011-10-29T14:21:23.000Z","updated_at":"2020-02-16T19:27:28.276Z","rejected_at":"2017-06-21T12:36:13.018Z","opened_at":null,"closed_at":null,"moderation_threshold_reached_at":"2011-10-29T14:21:23.000Z","response_threshold_reached_at":null,"government_response_at":null,"debate_threshold_reached_at":null,"debate_scheduled_at":null,"scheduled_debate_date":null,"debate_outcome_at":null,"rejection":{"code":"duplicate","details":null},"government_response":null,"debate":null,"departments":[],"topics":[]}}}