Management Compensation workshop reaches maximum capacity
Amec – the Association of Capital Market Investors – held in São Paulo, on November 17th, the most wanted and discussed workshop of its 10-year history: Management Compensation. Investors, members of Boards of Directors, academics and journalists shared experiences, questionings and understandings about the topic.
The debate has clearly showed that the topic has to be discussed now. The Brazilian Stock Exchange – BM&FBOVESPA – also addresses the topic in the proposal on the reform of the Novo Mercado with a view to requiring that companies in this segment comply with the Brazilian Securities and Exchange Commission – CVM: that the maximum, average and minimum compensation are disclosed, without mentioning the names of board members and directors.
“Investors still find it hard to believe that it’s necessary to create a requirement establishing that companies listed in the stricter corporate governance level comply with the regulator’s rules,” states Mauro Rodrigues da Cunha, Amec CEO. As in Brazil shareholders can vote on the compensation of executives, it’s contradictory that they do not have access to the maximum, average and minimum values.
On October 31st, the association published a Notice to the Market calling the attention of the capital market’s participants, companies and regulators to the problems its members have been experiencing related to the contracting, retention and compensation of senior executives.
Find below the presentations delivered in the Management Compensation workshop:
Felipe Rebelli_- Willis Towers Watson
Jacques Sarfatti – Russell Reynolds
Maria Francisca Vicente – Glass Lewis
Oscar Malvessi – FGV
