Private companies will be forced to reveal details of executive pay to stop “careless” behaviour following the collapse of BHS under plans set to be announced by Theresa May.
The Prime Minister is expected to say she wants to make sure “everybody plays by the same rules” when she outlines proposals to make businesses reveal “pay ratios” between executives and workers, according to the Telegraph.
May is already facing protests from bosses over the logistical compilations of her plans to add employees to all company boards.
John Lewis is among the retailers to object, arguing its approach to corporate governance is effective thanks to the company’s wider democratic structure and ownership model. The partnership is owned by its employees or “partners”, five of whom sit on its council.