Occupy target top CEO corporate greed, as pensions are cut

By staff writers
1 Dec 2011

Occupy London, part of the global movement for social and economic justice, has targeted Britain's highest paid CEO to highlight endemic corporate greed in the UK, and to call for economic and social change.

Around 60 protestors gained entry to the offices of mining giant Xstrata, a leading British company on the FTSE 100 Index, to draw attention to the fact that CEO Mick Davies was the highest compensated CEO of all the FTSE 100 companies in 2010-11.

While his companies had losses and the economy collapsed, Mr Davies received £18,426,105, according to Income Data Services.

Last year, average pay rise of executives across FTSE 100 companies was 43 per cent, with ‘top’ directors at 49 per cent, despite those same companies losing £104 billion in value.

Led by a samba band, protesters proceeded to the company HQ from Piccadilly Circus, entering the building at 25-7 Haymarket, London.

They chanted peacefully against corporate greed and in support of public sector workers striking for fair pensions for all. They also unfurled a banner. Several hundred people were kettled by police outside.

The demonstrators said it was morally and economically wrong that private and public sector pensions for ordinary people should be slashed, while senior executives cashed in by increasing their own pay levels, leaving many of those who generated their wealth without adequate support for the future.

Mines have closed in Australia, South Africa and Spain within the last decade resulting in hundreds of workers being laid off, Occupy protesters pointed out.

Karen Lincoln, supporter of Occupy London said: “Mick Davies is a prime example of the greedy one per cent, lining their own pockets while denying workers pensions. In this time when the government enforces austerity on the 99 per cent, these executives are profiting. The rest of us are having our pensions cuts, health service torn apart and youth centres shut down.

“We refuse to stand by and let this happen. We call on others to join us in the fight for a more just society. Today we have taken this to one of the offices of the one per cent. This is only the beginning. Come and join us on 15th December for Occupy Everywhere,” he added.

OLSX say the 'Occupy Everywhere' initiative will be unveiled shortly.

* Occupy London Stock Exchange: http://occupylsx.org/

[Ekk3]

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