THE GREENBURY COMMITTEE, 1995

This committee was set up in January 1995 to identify good practices by the Confederation of British Industry (CBI) in determining directors’ remuneration and to prepare a code of such practices for use by public limited companies of the United Kingdom.2

The committee

  • aimed to provide an answer to the general concerns about the accountability and level of directors’ pay;
  • argued against statutory control and for strengthening accountability by the proper allocation of responsibility for determining directors’ remuneration, the proper reporting to shareholders and greater transparency in the process; and
  • produced the Greenbury Code of Best Practice which was divided into the following four sections:
    1. Remuneration ...

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