Vince Cable to up attack on executive pay The Business Secretary is tomorrow expected to launch a formal consultation into the plans which are designed to give shareholders more control over executive pay. Business leaders have warned the plans, which require primary legislation to be implemented, would lead to investors "micro-managing companies." John Cridland, director-general of the CBI, said: "Businesses do not believe binding shareholder votes are the right way to ensure that executive reward reflects performance. Binding votes do not strengthen the role of shareholders as responsible owners... they risk turning shareholders into micromanagers who are expected to second-guess executive decisions at every turn, hampering the effective day-to-day management of the business. The reforms form part of a bigger plan to tackle excessive corporate pay that Mr Cable unveiled in January. He said he wanted to boost the transparency of remuneration reports; get more women on to pay boards; and encourage staff to challenge pay policies.