Pay concerns

WITH regards to Alf Young’s article about the inflation of executive/boardroom remuneration, (Perspective, 10 September), clearly the system of remuneration committees has become corrupt. Giving shareholders more teeth in this matter will not per se solve the problem, for the majority of shareholders are the institutions – many of whose directors are involved with said committees in more sense than one.
By The Newsroom
Published 13th Sep 2011, 21:34 BST

What about creating another class of shareholder – a majority of whom have the right to block any proposal of the remuneration committee? To make this a more democratic process, why not re- enfranchise those whose shareholdings are in nominee accounts?

DAVID THORNBER

Rumbling Bridge

Kinross