Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

'New York Post' slammed for publishing Foley execution images

Read more

DEBATE

Israel-Gaza: Back to Square One?

Read more

DEBATE

Israel-Gaza: Back to Square One? (part 2)

Read more

BUSINESS DAILY

Russia targets McDonald's over tensions with West

Read more

DEBATE

Israel-Gaza conflict: 72-hour ceasefire deal sets stage for Cairo talks

Read more

WEB NEWS

Web users divided over Darren Wilson

Read more

FOCUS

Spain's El Hierro to become world's first self-powered island

Read more

IN THE PAPERS

A bellwether for what not to do

Read more

ENCORE!

Luc Besson back in action with Scarlett Johansson in 'Lucy'

Read more

  • US forces tried to rescue slain reporter from IS captors

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

  • Deadly street battles hit Ukrainian rebel stronghold

    Read more

  • US attorney general visits Missouri town after fatal shooting

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Brazil’s Silva launches bid after Campos plane crash death

    Read more

  • Netanyahu compares Hamas to IS, Gaza offensive to continue

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • France’s ex-PM Juppé sets up presidential clash with Sarkozy

    Read more

  • France’s Hollande says global security ‘worst since 2001’

    Read more

  • France urges Iran, others in region, to join fight against IS

    Read more

  • A new view on Normandy landings, 70 years on

    Read more

  • Dozens killed as landslides strike Japan’s Hiroshima

    Read more

France

French govt set to ban executive payoffs

Video by Oliver FARRY , FRANCE 2

Text by FRANCE 24 (with wires)

Latest update : 2009-03-30

French PM François Fillon is due to unveil a decree banning stock options and other executive perks in companies that receive state bailouts, a week after several French banks faced public furore for handing out massive bonuses.

French PM François Fillon and finance minister Christine Lagarde are to unveil on Monday their decree banning bonuses and stock options for executives heading companies - notably banks – who have received state aid, the PM’s office said late on Sunday.

The decree will “ban stock options and free shares for company heads until 2010,” according to French financial daily Les Echos. The government says these financial rules are justified in times of crisis but not beyond, the daily wrote.

Last week, there was widespread outrage after it was revealed that executives from bailed-out companies including the banks Societe Generale and Credit Agricole, had awarded themselves bonuses and stock options.

“We will issue a decree on Monday. It will clearly state that companies that have received state aid will have to give up executive incentives like stock options, bonuses or golden parachutes,” said Eric Besson, France's immigration minister.

However, the opposition Socialist Party has rejected the decree, preferring instead a law that would cap executive pay and ban stock options. 

Date created : 2009-03-30

COMMENT(S)