Bos sets limits to top salaries

4th September 2007, Comments 0 comments

4 September 2007 THE HAGUE (ANP) – Minister of Finance Wouter Bos wants to set a ceiling for the remunerations of chief executives in the business sector. Bos wants the supervisory board to cap the salary packages of top managers. Bos made his comments in an interview with the Finacieele Dagblad published on Tuesday.

4 September 2007
 
THE HAGUE (ANP) – Minister of Finance Wouter Bos wants to set a ceiling for the remunerations of chief executives in the business sector. Bos wants the supervisory board to cap the salary packages of top managers. Bos made his comments in an interview with the Finacieele Dagblad published on Tuesday.

“Not only are the amounts paid ridiculously high, but the link between remuneration and performance has become unclear,” Bos said.  “This is definitely a task for the supervisory board: putting remuneration in order by setting a ceiling to remunerations.”

Bos raised the issue with the CEOs of Shell, Akzo Nobel, ABN Amro and Philips last week.

Bos has no problems with the variable remuneration packages but a maximum to these packages should be set in advance. Bos also feels that it is self-evident that executives receive bonuses in the case of takeovers. But these should be made public. “It is wrong when the impression arises that their choice is influenced by their bonuses.”

For some time the labour party PvdA and the left-wing opposition have been urging Bos to tackle the income of top executives. The trade unions have also often been calling on Bos to take measures to curb top salaries.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

 

 

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