It must represent one of the greatest wealth grabs in history. British firms have been the object of a management coup to deliver extravagant executive pay. The argument is that this incentivises performance and drives companies forward. The evidence suggests the opposite. Performance, productivity and innovation across British business are touching new lows. Yet inequality, with all its pernicious side-effects, is at its highest level for a century. This is a bad deal for the economy and society alike.
The virus has now infected the Co-op, one of our greatest retailers, but owned by its members as a co-operative.
They’re trying to find a CEO who doesn’t bankrupt the organisation Will. Something that the Industrial Society could have used.
BTW, does anyone know when the administrator’s report will come out for the Work Foundation?