FED:Govt plans crackdown on executive pay

AAP General News (Australia)
02-23-2011
FED:Govt plans crackdown on executive pay

CANBERRA, Feb 23 AAP - The federal government is applying a "two-strikes test" as part
of a crackdown on greedy company executives and directors.

The package of measures, introduced into parliament on Wednesday, aims to give shareholders
more say over executive remuneration.

Parliamentary secretary to the Treasurer David Bradbury said that while Australia's
system was relatively strong, the global financial crisis highlighted corporate remuneration
issues.

"In particular, it illustrated the dangers of remuneration structures that focus …