Remuneration Of Senior Executives And Elected Board Members

The remuneration of senior executives and board members ought ultimately to be subject to member democratic control. This guards against excessive executive and board pay, which increases wealth inequality and reduces the economic benefits of co-operative enterprise for co-operative members. Board pay should always be subject to approval by members in general assembly. Where remuneration committees are established to advise on senior executive and board pay, their recommendations about how executive pay should be set and by whom should be subject to approval or endorsement by members in general meeting.