Nicolas Sarkozy does not release the pressure. Satisfied with the proposals of the Afep and the Medef to regulate the remuneration of managers, the head of State directed, yesterday, the employers to the faster words to acts. He wants that "boards of Directors (...)". "formally adhere to these recommendations before the end of the year" (see below). Otherwise, "they would be included in a Bill early 2009". And to much stress its determination, the Government will regain control immediately on the theme of stock options, by filing an amendment to the draft law on income from labour, which will be considered in the Senate from 27 October. This amendment will prohibit granting stock leaders or "equivalent device" If employees are not incentive of stockoptions, of free shares or a surplus of participation (from a minimum legal).
Financial crisis and after the controversies around the "golden parachutes" that were to be paid to the leaders of Dexia (they were waived under political pressure), the Executive wants to show its willingness to morality system. "We give us finally the means to put an end to past abuses", welcomed, yesterday, Xavier Bertrand, Minister of labour.
More binding system
To "prevent the device may be bypassed", his cabinet wants the amendment to be the "most extensive possible" and included in its field, with regard to the leader, both stock options and free shares under performance criterion. The system will be more stringent than that advocated by the Medef, which wants to limit the packaging to the only stock. The idea is not new. Five years, the PS elected the offer without success, but the scandals are repeating, it gained the majority deputies. In the review to the Assembly of the text on the income, end September, Frédéric Lefebvre, spokesman for the UMP, had even submitted an amendment similar to that in preparation. Which had been rejected by Xavier Bertrand, anxious to leave before the Medef make its copy. It was, finally, back to better jump.
If passed, the amendment will put companies at the foot of the wall. Today, one third of greater than 1,000 employees and 42 of 500 to 1,000 employees do not pay incentive. In SMEs with fewer than 100 employees, 5 less than 1 employee benefits. Failure to disrupt their own remuneration, leaders of large companies and those of start-up, love of stock options and free shares, will be forced to move from the profit-sharing agreements. In reality, the gives should really change in very large groups, to distribute already almost all.
"It takes the time to inform".
This amendment will in any case reinforce the impact of the text on the labor income, which fact scope debate. The tax credit encouraging enterprises to develop engagement is welcomed but should not bear fruit immediately. "It will be very limited in 2009, because it takes the time to inform and to negotiate;" "in addition, the crisis encourage leaders to caution next year", warns Dominique Coudert, Associate Executive Director, Natixis long distance saver. Mixed results that will save companies this year are that the participation and engagement in 2009 should remain "stable over 2008, even declining.
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