September 18 2014 Latest news:
Sunday, January 1, 2012
Executive pay and the lack of women on company boards need to be tackled next year to put right some of the UK’s “key failings”, a business leader has said.
Simon Walker, director general of the Institute of Directors, said top pay at some of the country’s biggest firms had “got out of line”, and believed there were still too few women in the boardroom.
In his New Year’s message, Mr Walker said the UK needed to renew its economy in 2012 as well as renew faith in business, and in the country itself.
He said: “As a nation, we tend to talk ourselves down and ignore our strengths, but there is still much that is great about our country.
“We need to regain our pride in our country and celebrate the achievements of our entrepreneurs and business leaders.”
The IoD leader said he would be launching a database of British success stories in the spring, as well as promoting young entrepreneurs.
In a message to business leaders, he said: “2012 will be a very difficult year, and things could get worse before they get better, but your skill, your creativity and your inventiveness will help to turn things around.
“In my travels around the UK, I have seen so many first-class business operations and heard so many inspiring stories about the great things you’ve been doing.
“That’s why I’m still an optimist about our prospects, and why I believe there is still a great story to tell about Britain.”
Phones 4u is to go into administration - placing more than 5,500 jobs at risk - after network operator EE joined Vodafone in cutting ties with the retailer.