Pension funds urged to curb boardroom pay

Hermes Equity Ownership Services and the National Association of Pension Funds want to "shift the current political and societal debate" on executive pay by creating a greater alignment between companies and shareholders. Public anger has escalated over executive pay since the financial crisis and the government has acknowledged a "disconnect" between remuneration packages and company performance. Hermes EOS chief executive Colin Melvin said shareholders must work with companies to improve pay structures. He said: "We are at a moment of crisis in the evolution of publicly listed co...