Journalists and trade unions could one day have a say in boardroom pay packets in the light of comments made in Edinburgh yesterday by Lord Myners, the financial services secretary.
Myners raised the issue of directors’ pay yesterday, saying: “Remuneration is an area I feel strongly about.”
From next month, remuneration committees will need to show they had taken company-wide pay and employment conditions into account when fixing directors’ pay.
“Should they, for instance, consider formally seeking views from investors, employees and their representatives?” he asked.
The amount paid to some media executives has angered journalists and the NUJ – especially at a time when costs are being cut elsewhere and jobs are being axed.
Yesterday, it emerged that Marjorie Scardino, chief executive of Financial Times publisher Pearson, took home £2,057,000 last year.
The news comes a few months after the FT announced it was looking to cut 80 staff, including 20 journalists, in a cost-cutting drive.