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Theresa May pledges to crack down on executive pay as PM

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Conservative leader frontrunner Theresa May has pledged to place tighter controls on executive pay, to ensure the country works not just for “the privileged few”.

May, who is currently leading the race to become next prime minister, will say today that she will ensure greater employee representation on boards as part of her plans, reports the FT.

Laying out her plans for her leadership campaign, May will say she has a “bold positive vision” for the country.

She will say she wants a society that works for everyone, including “rich and poor, north and south, urban and rural, young and old, male and female, black and white, sick and healthy, public sector, private sector, those with skills and those without”.

Among her plans are for annual shareholder votes on pay to be binding, and for non-executive directors to be drawn from a broader pool of people.

Her plans for big companies to have consumers and employees on boards will affect UK-registered companies and those in the FTSE 100.

The home secretary will also reassure voters that the UK will succeed in Brexit, saying: “Brexit means Brexit and we’re going to make a success of it.”

May, who was in the Remain camp during the EU referendum campaign, faces Leave campaigner Andrea Leadsom in the battle for prime minister.

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