France to Limit Government-Owned Companies CEO Pay, Figaro Says
French Finance Minister Pierre Moscovici tomorrow will present proposed rules for the remuneration of corporate officers in companies in which the government holds a majority stake, limiting them to 20 times the pay of the lowest-paid employees, Le Figaro reported.
In enterprises in which the state holds a minority stake, the government will instruct its representatives on the boards of directors to propose the same limitations on CEOs’ pay, the newspaper said, citing information it said it has obtained.
The multiple for the salaries of executives in state- controlled enterprises will be based on the average income across the 15 companies in which the government is the majority holder, Le Figaro said.
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