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  • November 2018 (Revised January 2019)
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The Weir Group: Reforming Executive Pay (A)

By: Lynn S. Paine and Federica Gabrieli
  • Format:Print
  • | Language:English
  • | Pages:32
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Abstract

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.)
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About The Author

Lynn S. Paine

General Management
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Related Work

    • November 2018 (Revised January 2019)
    • Faculty Research

    The Weir Group: Reforming Executive Pay (B)

    By: Lynn S. Paine and Federica Gabrieli
    • November 2018 (Revised January 2019)
    • Faculty Research

    The Weir Group: Reforming Executive Pay (A)

    By: Lynn S. Paine and Federica Gabrieli
Related Work
  • The Weir Group: Reforming Executive Pay (B) By: Lynn S. Paine and Federica Gabrieli
  • The Weir Group: Reforming Executive Pay (A) By: Lynn S. Paine and Federica Gabrieli
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