British insurance giant Legal & General is reportedly planning to reveal the salary gap between its chief executive and rank-and-file employees, according to a report by
Bloomberg.
Citing a person familiar with the matter, the news agency reported that the major insurer aims to publish its CEO-to-worker pay ratio in its annual report in March.
The report will update investors on CEO Nigel Wilson’s compensation in 2016.
The insurer’s move will make it one of the first big UK companies to respond to growing concern about corporate wage inequality,
Bloomberg noted.
Prime Minister Theresa May previously called for a crackdown on executives’ excessive salaries. In November 2016, the government outlined plans to force businesses to justify high levels of pay to company bosses.
The plans include the revealing of pay ratios to expose the gap in earnings between average employees and the company top brass.
The measures under consideration also include proposals that would give company shareholders more powers to vote against excessive pay.
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