Remuneration: Get basics right and avoid pitfalls
A strong ethical culture must underpin a pay-for-performance system which avoids the pitfalls of excessive remuneration.
ON Jan 11, we released our first report on remuneration practices for 609 companies with a primary listing on the Singapore Exchange (SGX). The report, titled The Singapore Report on Remuneration Practices: Avoiding the Apaycalypse, highlights good practices - and practices that fall below generally accepted norms. It identifies companies that got the basics right, especially in terms of compliance with the Singapore Code of Corporate Governance on remuneration committee composition and remuneration disclosures.
In selecting the companies, the following criteria were used:
(Note that in this article, the term "NEDs" includes independent directors or "IDs".)
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