CAMAC pushes for greater executive pay secrecy
The federal government’s corporate law advisory council, the Corporations and Markers Advisory Committee (CAMAC), has announced its recommendation to only announce take-home pay packets for the nation’s executives.
The year long review conducted by CAMAC contains recommendations such as suggesting boards have in-house methods for valuing equity perks and non-disclosure of performance benchmarks.
CAMAC’s review findings are a result of the productivity commissions’ inquiry into executive pay packets in 2009.
CAMAC’s findings come as the Greens and the Federal Government continue debate over the ‘two-strikes’ policy proposed by the Government, that would see board spills over two consecutive negative votes by shareholders. The Greens are currently pushing for a nationwide executive salary cap.