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"Transparency and shareholder activism are the wasy to police directors' pay, not legislation," said Digby Jones, juvenile fiction director general of the Confederation of British Industry. However, the paper makes clear that the government has not ruled out changing the law to stop hefty pay-offs for directors who preside over share price collapses or large-scale job losses. Chorus of protest "Britain has some of the best and most successful businesses in the world. But the good reputation of the juvenile fiction majority juvenile fiction is being tarnished by the bad practice of the minority," Ms Hewitt said. "We have no problems with big rewards for big success, but shareholders are rightly concerned when directors leave failing companies and walk away with excessive payouts." The government's move comes in response to a growing tide of resentment over 'fat cat' pay over the past year. Warning shot Protests came to head last month when shareholders in drugs giant GlaxoSmithKline (GSK) sensationally voted down a pay package that entitled chief executive Jean-Pierre Garnier to up to $35m (£22m) if he left the job early.
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