Time to answer questions about pay of directors
Companies need to recognise that the "new normal" of governance requires full disclosure.
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Probing how much individual professionals earn is usually not kosher. A recent poll of 1,000 Americans revealed that 53 per cent considered discussing their income at a dinner party taboo, second only to "the sex lives of those present" (59 per cent).
Taboos may vary from culture to culture, but it would appear we have a similar discomfort around director remuneration disclosures in Singapore, based simply on the low level of such disclosures by listed companies.
The Code of Corporate Governance requires that companies fully disclose the remuneration of individual directors on a named basis (Guideline 9.2). According to the 2014 SID-ISCA Singapore Directorship Report, only 31 per cent of all the 717 listed entities on the Singapore Exchange precisely disclosed directors' annual fees and remuneration.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
