Companies Could Move Headquarters if France Limits Executive Pay

Firms could move their headquarters out of France if the government pursues legislation to limit the remuneration of company executives, the CEO of oil major Total said on Wednesday. Patrick Pouyanne told a French Senate commission that the question of salaries for executives should be left to company general assemblies and boards, adding that executives must listen when it becomes contentious. French Economy Minister Emmanuel Macron has threatened to legislate on executive pay following an outcry over what some shareholders and workers consider to be excessive remuneration packages attributed to some company heads in France.

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