BUSINESSGovernment is finalising legislation aimed at highlighting the huge gap in what companies’ highest paid bosses and the lowest paid employees earn. It will require disclosure of wage differentials in companies, stronger governance on excessive director pay, and enhanced transparency on ownership and financial records. “A further amendment to company law is required to tackle the gross injustice of excessive pay,” Patel said. The version does not state what will count as unacceptable, says Burger. The plan is not new and experts told City Press in January that such a law could be in force by next year.

Source: News 24 May 22, 2021 22:41 UTC