Johannesburg - Former Chamber of Mines president Bobby
Godsell believes South Africa should establish a commission on executive pay,
to mirror efforts made in the UK, Business Day reported on Monday.
"I think we need a similar kind of independent
commission. Maybe we need to get auspices for such a discussion," Godsell
said at a panel discussion in Cape Town on Thursday, the newspaper reported.
The UK commission is an independent body established to
research executive pay. Its recommendations include executives being paid
basic salaries with one additional performance-related element, and that the
top 10 highest executive salaries in each company be published.
The commission also recommends that employees have representation
on executive remuneration committees, and that shareholders cast
"forward-looking" advisory votes on executive salaries which are
binding for three years.