Sarkozy takes aim at top managers

French President and presidential Nicolas Sarkozy suggested on Wednesday making the salaries of top managers dependent on shareholder approval. The proposal dovetails with a trend that is gaining ground internationally, writes the business paper Les Echos: "After the traders now it's the managers. They gambled away their public esteem through individual blunders and a general lack of moderation, and are now being lumped together with the investment bankers. Their pay is being just as virulently criticised as stockbrokers' bonuses. This debate on the right of shareholders to have a say regarding the salaries of top managers at listed companies is not only taking place in France. In fact many countries have already opted for the 'say on pay' which Sarkozy is now proposing as presidential candidate. Even in London, the temple of European capitalism, this measure is about to be pushed through. The movement is gathering force and can no longer be stopped."

» full article (external link, French)
More from the press review on the subject » Banks, » Politics, » Economy, » France, » United Kingdom, » Global
All available articles from » François Vidal

» To the complete press review of Friday, February 24, 2012