格林伯利报告(Creenbury Report,1995)紧跟1992年英国发布Cadbury report和拉特曼报告(Rutterman Report,1994),进一步全面探讨了董事的薪酬激励问题,并建议通过由英国工业联合会(CBI)设立薪酬委员会、董事薪酬“完全披露”和绩效薪酬原则,控制董事薪酬可能带来的风险。
《格林伯利报告》与1992年的《卡德伯利报告》与1998年的《汉姆伯尔报告》共同组成了英国的独立董事制度。其中,《格林伯利报告》建议上市公司的董事会设立薪酬委员会,完全由独立的非执行董事组成,负责制定执行董事的薪酬,并且将高级管理人员的薪酬与公司业绩挂钩,确保执行董事不能直接决定他们自己的薪酬水平。
Following public concern about executive remuneration (large pay increases, large gains from share options and excessive compensation for departing directors) in the recently privatised utility industries (e.g. gas, electricity) a working party was established under the chairmanship of Sir Richard Greenbury.
The final report recommended:
establishing a remuneration committee to determine directors' remuneration;
a nominations committee to oversee new appointments to the board; and
detailed reporting to shareholders on the workings of both committees.
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