Friday was a busy day for UK executives—dubbed "oligarchs" by some critics—as the bonuses they get and their effects on the wider economy once again came into the limelight.
On one hand, Barclays shareholders held their annual meeting, and 27 percent of them voted against pay deals awarded to Chief Executive Officer Bob Diamond.
Barclays chairman Marcus Agius apologized to shareholders at the meeting for badly communicating the bank's policy on pay.
"There is a significant minority of shareholders who feel that we got some of these judgments (on remuneration) wrong for 2011 and that we have not sufficiently taken their views on board," Agius said according to Reuters.
On the other, the deadline for the business community to submit opinions on proposals by the UK government to make executive pay more fair expired on Friday.
That consultation process was launched in mid-March and tries to address growing public unhappiness at the fast growth in executive pay, with many critics saying it is not always linked to performance and some even warning that it will harm companies' and countries' long-term prospects.
The UK government's Department for Business (BIS) said in a paper on executive remuneration that the median total remuneration of FTSE100 CEOs rose from an average of 1 million pounds ($1.6 million) to 4.2 million pounds ($6.7 million) in the period between 2008 and 2010.Page 1 of 5 | Next Page