Executive pay '180 times average', report finds

The High Pay Centre, a think tank, said shareholders were still backing high executive pay deals despite new powers to vote them down at annual meetings, the BBC reports. The pay of the average FTSE 100 chief executive increased from £4.1m to £4.7m last year, said the report. The government should take action to close the pay gap, it said. In October, new rules came into effect forcing listed firms to give shareholders a binding vote on directors' pay. > Read: Lloyds shareholders vent anger over executive pay < A firm's remuneration policy now requires the approval of more tha...