Hr Institute Supports Thrust Of Executive Pay Report 1

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30th September 2009, 07:51pm - Views: 484





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Media Release

HR institute supports thrust of

executive pay report

September 30


The association representing Australian human resource practitioners has given broad

support to the recommendations of the Productivity Commission Inquiry on executive

remuneration released today.

The 15 draft recommendations were released under the following headings:


Improving board capabilities


Reducing conflicts of interest


Improving relevant disclosures


Remuneration principles and policies


Facilitating shareholder engagement

The national president of the Australian Human Resources Institute, Peter Wilson, whose

organisation made a detailed set of submissions to the Inquiry, commented on the draft

report:

“The Commission’s recommendations are an indication that the Inquiry has taken on board

public indignation and shareholder discontent in this arena, and is looking at practical yet far-

sighted ways to provide reforms that will work.

“The proposed reforms on boards of directors, conflict of interest, disclosure and

shareholder engagement show evidence that the Inquiry has benefited from submissions

grounded in a sound understanding of the executive pay arena, and one that has avoided

simple calls for caps that solve political problems, but which are not sustainable in today's

global business context.

“In seeking further consultation on its draft report, the Commission has wisely called for

practical input that will provide much needed diversity on boards and steps to facilitate their

renewal. In addition to its welcome identification of reform to the “no vacancy” rule on

boards, AHRI would like to see the final endorsement of a national code of remuneration

practice to guide greater transparency on the work of remuneration committees and the

boards that appoint them.”

"This report is a welcome addition to public debate and review of executive pay issues, and

the Productivity Commission is to be commended for the many positive and constructive

policy and practice recommendations in the report", Peter Wilson said.

Business Human Resources AHRI 2 image

END

About AHRI

The Australian Human Resources Institute (AHRI) is the national association representing human resource and people

management professionals.  AHRI leads the direction and fosters the growth of the HR profession through actively setting

standards and building the capability of the profession

.

For further information contact:

Paul Begley, national manager, government & media relations, Australian Human Resources Institute   








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