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report's author IRS director Cliff Weight, said: "CEOs are getting bread, butter, jam and cream."And he shop slammed companies for failing to make clear in their annual reports the real sums being paid to their executives. "It is unclear how much CEOs are actually paid," he said. "Although companies disclose each of the elements shop of remuneration, they spread the data over numerous pages shop of the remuneration committee report."The Stock Exchange’s combined code on corporate governance requires the remuneration report to be "clear, transparent and understandable to shareholders" but according to Mr Weight, no company managed to do this. "Some do not include the expected value of long-term incentives and none 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.
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