The practice of South African companies when it comes to approving remuneration policy – an advisory vote by the board – may be too ‘tame’ when compared with the rest of the world.

That was the word from panelist David Couldridge, a senior investment analyst at Element Investment Managers, who commented on the second position paper* on policy remuneration by the Institute of Directors in Southern Africa (IoDSA).

"Australian practice compels boards to stand for re-election if remuneration policy is not approved upon the second attempt while the UK requires a binding vote,” says Couldridge. "From the perspective of inspiring confidence in foreign investors, I believe it’s critical that we raise our game.”

Getting the balance right

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