Tech Industry

Sky and leading UK companies named on government pay list

The Public Register lists companies where 20 percent of shareholders have protested a decision over directors' pay.

Theresa May has criticised firms for ignoring employees and handing out large pay packages to directors.
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Leading UK companies including Sky, Burberry and online gambling company Playtech have been named on a government list intended to expose the "unacceptable face of capitalism."

The Public Register lists companies that have faced a "revolt" by 20 percent of shareholders or more over resolutions, or that have withdrawn resolutions prior to a shareholder vote. 29 percent of Sky's shareholders voted against a £16 million pay deal for chief executive Jeremy Darroch, according to a report in The Guardian. Meanwhile only 51.6 percent of shareholders supported the appointment of James Murdoch as chairman. 

Wargames and miniatures manufacturing company Games Workshop also faced a revolt over the re-election of director Chris Myatt, with 25.5 percent of shareholders voting against the decision.

Prime Minister Theresa May called for the register to be created in August, criticising companies that have "ignored the concerns of their shareholders by awarding pay rises to bosses that far outstrip the company's performance." 

"For many ordinary working people -- who work hard and have paid into the system all their lives -- it's not always clear that business is playing by the same rules as they are," she wrote in the introduction to a green paper on corporate governance reform, originally published in August.