Rules for board pay disclosure may change

The Government may be set to reconsider - in the wake of a new report - the regulations on how public companies disclose how …

The Government may be set to reconsider - in the wake of a new report - the regulations on how public companies disclose how much they pay their directors, and possibly adopt the British model where a system of salary banding is used to indicate the best paid director, the second paid director and so on.

Currently, Irish-registered companies are only required to reveal separately the aggregate remuneration of their executive and non-executive directors, with the only breakdown involving how the remuneration is split between basic salaries, performance bonuses, benefits in kind and pension contributions.

The Minister for Enterprise & Employment, Ms Harney, will today receive a report from the Irish Association of Investment Managers which is thought to favour introducing a British type model. Close attention will be paid to Ms Harney's comments at the launch.

Until now, the IAIM and the Irish Stock Exchange has accepted the aggregation of salaries, partly due to claims by the Institute of Directors that revealing individual salary and benefits packages would have security implications for the individuals concerned.