Fat Cat Tuesday: CEOs' high salaries defended

While the high remuneration packages of FTSE 100 CEO’s were criticised by a prominent think tank yesterday, one Executive Director has stepped up to defend the salaries of top business leaders.

The row started when the High Pay Centre (HPC) dubbed yesterday ‘Fat Cat Tuesday’. The think tank based the name on figures that revealed that it would take the CEOs of FTSE 100 companies 22 hours to earn the UK average salary.

The think tank said that those CEOs received an average pay package of £4.96million. The average British worker earned £27,645 in 2015.

The HPC argued that the “figures will raise [doubts over] the effectiveness of government efforts to curb pay by giving shareholders the power to veto excessive pay packages.”