More from the Author

• Panel Discussion | 15 Apr 2019

  Panel on the Impact of Corporate Governance on Corporate Culture, including Safety Culture

  Lynn S. Paine

  Citation:

  "Panel on the Impact of Corporate Governance on Corporate Culture, including Safety Culture." Forum on Governance, Management, and Safety Culture, California Public Utilities Commission, San Francisco, CA, April 15, 2019.  View Details

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• Case | HBS Case Collection | November 2018 (Revised January 2019)

  The Weir Group: Reforming Executive Pay (A)

  Lynn S. Paine and Federica Gabrieli

  In February 2018, the Remuneration Committee together with the full Board of Directors of the Scotland-based engineering company The Weir Group had to decide whether to seek a shareholder vote at the upcoming Annual General Meeting in April on a proposal to reform the company’s executive remuneration system. The stakes were high: two years earlier shareholders had so roundly rejected a proposal to reform the company’s executive pay arrangements that the result had hit the headlines. A new pioneering proposal had been put together—one that, if successful, would not only mark a dramatic change for the company but would also serve as a test case for executive pay reform in the whole United Kingdom. Should they go ahead? How would a second failure to get shareholders’ approval be recorded in the chronicle of a company soon to celebrate its 150th anniversary?

  Keywords: general management; board of directors; Executive committees; human resource management; compensation; pay for performance; incentives; bonuses; Incentive programs; Employee stock ownership plans; performance measurement; Corporate Governance; Governing and Advisory Boards; Human Resources; Management; Executive Compensation; Change; Performance Evaluation; Employee Stock Ownership Plan; Europe; United Kingdom; Scotland;

  Citation:

  Paine, Lynn S., and Federica Gabrieli. "The Weir Group: Reforming Executive Pay (A)." Harvard Business School Case 319-046, November 2018. (Revised January 2019.)  View Details

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• Supplement | HBS Case Collection | November 2018 (Revised January 2019)

  The Weir Group: Reforming Executive Pay (B)

  Lynn S. Paine and Federica Gabrieli

  Supplement to the (A) case. The case describes the events that took place in the run-up to the 2018 Annual General Meeting, the voting outcome, key perspectives on success factors, and the challenges that The Weir Group faced in the near future.

  Keywords: Corporate Governance; Human Resources; Management; Executive Compensation; Europe; United Kingdom; Scotland;

  Citation:

  Paine, Lynn S., and Federica Gabrieli. "The Weir Group: Reforming Executive Pay (B)." Harvard Business School Supplement 319-047, November 2018. (Revised January 2019.)  View Details

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