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"It is unclear how much CEOs are actually paid," he said. "Although companies disclose each of the elements of remuneration, they spread the data over numerous pages of the remuneration committee report."The Stock Exchange’s combined code on corporate governance requires and 33 (garfield fat cat three pack) the remuneration report to be "clear, transparent and understandable to shareholders" but according to Mr Weight, no company managed to and 33 (garfield fat cat three pack) do this. "Some do not include the expected value of long-term incentives and none and 33 (garfield fat cat three pack) state the total remuneration," he said.The corporate governance regulations introduced in 2002 have failed to bring greater transparency and accountability and done nothing restrain directors’ pay, the report asserts. Moreover, the move towards more performance-related pay had not been matched by reductions in salaries. Mr Weight said that if shareholders were to be able to have a say on what kind of packages were acceptable, they had to be given a clear picture in annual reports.
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