Directors ‘say not enough’
THIS ISLAND’S top prosecutor wants the salaries and perks of top-flight company executives approved by shareholders and not just the boards of directors.
As he addressed the topic of white collar crime and how to stamp it out, Director of Public Prosecutions (DPP) Charles Leacock said that was the route many companies were going in sophisticated jurisdictions and he wanted similar action pursued here.
Addressing members of the Institute of Chartered Accountants of Barbados (ICAB) at Hilton Barbados on Thursday night, Leacock said too often the boards of directors were chosen at the request or the approval of chief executive officers and often they were people of like mind.
In a frank exchange with the island’s leading accountants, the DPP asked: “How do we ensure not only a level playing field but also fairness to shareholders and fairness to those that are investing in these companies?”
Read the full story in today’s SATURDAY SUN.
PICTURED: Director of Public Prosecutions Charles Leacock (left) holding court with president of the Institute of Chartered Accountants of Barbados, David Simpson (centre), and immediate past president Andrew Brathwaite following ICAB’s annual general meeting at Hilton Barbados.