Top execs' pay: Should shareholders have a say?

[SINGAPORE] Singapore- listed companies should go beyond remuneration disclosure for top executives, and give shareholders a say on their pay.

This will ensure direct accountability by management to owners of shares, and also help companies build bench strength as opposed to having a "hero CEO", said Lee Suet Fern, managing partner of Stamford Law Corporation, at the Singapore Corporate Awards Seminar yesterday.

Speaking at a panel session, she noted from her experience on the boards of overseas companies that there has been increased discussion on "say on pay", a movement unfolding in developed markets where shareholders have the right to vote on the pay of executives.