SNN - British MedTech Firm Smith & Nephew Seeks To Adopt US-Inspired Pay Policy to Navigate Shareholder Skepticism | Benzinga
British multinational medical equipment manufacturing company Smith & Nephew Plc (NYSE:SNN) is set to revamp its executive pay structure, signaling a departure from the U.K. market norms, as the company aims to align compensation with its U.S. counterparts.
In a move aimed at addressing high executive turnover, the FTSE 100 medical devices firm intends to bring its pay for U.S. executives closer to American levels, challenging the sustainability of U.K. pay packages, according to Chairman Rupert Soames.
Citing Soames, the Financial Times highlighted a group of companies, “Brilos,” which are British in listing only, emphasizing the disparity in revenue sources and the need for a global talent recruitment strategy.
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