Press Release: Directors’ pay – Commission sets out guidance on disclosure and shareholder control

The European Commission adopted a Recommendation on directors' remuneration on 6 October 2004. It recommends that Member States should ensure listed companies disclose their policy on directors' remuneration and tell shareholders how much individual directors are earning and in what form. Furthermore, they should guarantee that shareholders are given adequate control over these matters and over share-based remuneration schemes. The Commission also adopted a Recommendation on the role of independent directors.

European Commission: Press Release: MEMO/04/231 http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/04/231&format=HTML&aged=0&language=EN&guiLanguage=en

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