Today's Labour News

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earningsBusiness Report writes that the proposals in the King IV Report on Corporate Governance on the disclosure and voting requirements on remuneration are meant to enhance transparency and are unlikely to lead to a decrease in executive pay.  

The report was formally launched by the King Committee on Corporate Governance in SA and the Institute of Directors in Southern Africa on Tuesday.  King IV aims to foster enhanced accountability on remuneration and recommended the use of performance measures that took into consideration the financial, social and environmental context in which companies operated.  This is a departure from linking remuneration to financial performance only.  Nastascha Harduth of Werksmans Attorneys commented that the report required boards to set the tone and lead ethically and effectively.  “Ultimately, however, the manner in which these principles are achieved in practice is entirely up to the organisation.”

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