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An excellent initiative by the Times to empower the ultimate owners of companies – we should really get behind and support this.


It’s good that significant pressure has been brought to bear by investors, the IoD and other interested parties.  As a result, the worst excesses of Mr Lund’s package have been modified and brought in line with the AGM approved policy.  Credit to Mr Lund that he seems to have taken some of the initiative to sort out the mess !  I’m still concerned however that the Board were sufficiently cavalier as to ignore the AGM resolution – I’m even more concerned that this ‘victory’ for common sense does not address the fundamental issue which is that executive pay is much too high already and needs to be reduced.