1/5/2009

CEO salaries to be kept under supervision

Hurriyet English - In an attempt to establish transparency in capital markets and to inform investors about the fiscal situation and financial performance of companies whose shares are publicly traded, the Capital Markets Board of Turkey, widely known as SPK, will keep an eye on salaries of chief executives. “The SPK will apply administrative fines for companies that do not inform the public about the benefits of their chief executives” said Turan Erol, the SPK’s chairman. "Then the SPK will investigate the accuracy of statements. We will supervise the benefits of chief executives and see whether they are suitable with the market conditions" he added. He also said, "In case there are companies that confer advantages on chief executives which are different than the precedent, the SPK will assess whether there are reasonable causes for these differences, as well as making sure that the public is informed satisfactorily".
/Style%20Library/Invest/images/news.png