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World

UK moves to force executives' pay into the open

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Opening sequence

World

UK moves to force executives' pay into the open

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COMING UP:UK moves to force executives' pay into the open

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00:00:01
>> Britain's Prime Minister cracking down on perceived corporate excess. Unveiling proposals that, if adopted, would force the largest private businesses to publish their executives' pay and assure their compensation reflects the company's performance. It also pledges to find ways of making regular employees better represented in the boardroom. The move comes after the scandal ridden collapse of BHS, a major British retailer.
00:00:24
Sold for one pound last year followed by the closure of all its 163 stores. 11,000 jobs were lost, and pensions for 20,000 pay significant cuts. At the helm CEO Sir Philip Green, a multi billionaire, who lawmakers accuse of putting his own fortune ahead of the troubled company. BHS is mentioned specifically in Dowding Street's release.
00:00:46
The prime minister's office has said pointing to a quote, irresponsible minority of private companies. But, lawmakers have back stripping Green of his knighthood.