EU looks to curb corporate pay

The EU has introduced a raft of new measures aimed at restraining pay levels in the corporate sector and making it easier for SMEs to set up in other countries in the region.

The legislation introduced by the EU Commissioner for Internal Markets, Michel Barnier, will make sweeping changes to corporate governance rules for 10,000 companies listed in public markets throughout the region.

“The last years have shown time and time again how short-termism damages European companies and the economy. Sound corporate governance can help to change that. Today’s proposals will encourage shareholders to engage more with the companies they invest in, and to take a longer- term perspective of their investment,” said Internal Market and Services Commissioner Michel Barnier.