Theresa May's Corporate Crackdown Faces Growing Opposition
- Business secretary aware companies are worried about Brexit
- Tension in government growing in lead up to fresh legislation
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Prime Minister Theresa May promised to attack executive greed and corporate misbehavior. Now U.K. Business Secretary Greg Clark is trying to water down some of the more radical ideas her advisers and others are putting forward, according to two people familiar with the situation.
Clark enjoys a good working relationship with May and has emerged as the figure trying to temper some policies under consideration, they said. Options include mandatory publication of pay ratios, annual binding votes on company remuneration reports and a ban on the awarding of complex share-based pay schemes to top executives.