New Clause 17 - Remuneration committees and non-executive directors
Enterprise and Regulatory Reform Bill
‘(1) The Secretary of State will provide for a requirement that an employee representative should be a member of the remuneration committee of a relevant body corporate.
(2) The Secretary of State will provide for a requirement that companies must demonstrate that non-executive directors on boards and remuneration committees are drawn from a diverse background.
(3) Companies must demonstrate that they are widening their search for nonexecutive committees.
(4) Companies must report how they are widening their search for non-executive directors in their annual report.’.—(Mr Iain Wright.)