Boards should show ‘additional restraint’ as cost of living crisis hits staff, says Investment Association

UK’s top fund managers tell FTSE companies to rein in CEO pay

The UK’s top fund managers have told company boards to keep pay for chief executives and other senior managers “in check” this year to reflect the pain being inflicted on many of their staff by the cost of living crisis.
In a letter to the heads of remuneration at FTSE-listed companies, the Investment Association, which represents British fund managers, called for restraint on executive salary increases this year as many UK households struggle financially.
The letter, which reflects its annual pay guidelines and principles for FTSE companies, comes after PwC this week found that CEO pay in the FTSE 100 was at the highest level for at least five years, having soared by almost a quarter in 2022.
This story originally appeared on: Financial Times - Author:Daniel Thomas