23 July 2004

Commission working document on directors’ remuneration

In the context of the preparation of the forthcoming Recommendation on fostering an appropriate regime for directors' remuneration, the services of DG Internal Market have developed the following working document. This document was prepared on the basis of discussions with Member States experts and of the comments received in the public consultation organised in Spring.

This document from DG Internal Market services is a working document for comments and is without prejudice to any final decision that might be taken by the Commission. This document is therefore informal and not definitive.

In particular, the Commission services draw the attention to the definition of the scope currently envisaged for the forthcoming Recommendation. The Commission envisaged earlier that the measures to be adopted by Member States pursuant to the forthcoming Recommendation should cover companies listed in the EU and incorporated in one of the Member Sates. In line with the suggestions received recently from some organisations, it is now envisaged that the measures to be adopted by Member States pursuant to the Recommendation would cover all companies listed in the EU, whether or not they are incorporated in one of the EU Member States.

working document

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