The Remuneration Code was prepared by the CUC in close consultation with multiple stakeholders to provide ‘a strong basis for the sector to demonstrate its commitment to transparency’ and ‘provide[s] universities with guidance on how to determine fair and appropriate remuneration for Vice-Chancellors and other senior university staff’. The Code sets out three principles for senior pay awards: fairness, independence and transparency.
CUC Executive Secretary, John Rushforth, said: “CUC is delighted to have appointed Advance HE to conduct this independent review given their in-depth knowledge and understanding of higher education governance in challenging and changing policy contexts. We look forward to receiving the findings and their recommendations.”
Andy Shenstone, Advance HE Director of Business Development and Delivery, and who leads on governance, said: “The review will explore a range of evidence to establish if the Code and its three underlying principles remain fit for purpose. Our purpose is not to comment on individual awards, but to conduct an impartial, robust, evidence-based and practical review – with recommendations – so that the sector and stakeholders have confidence that there is a fit and proper process in place for senior remuneration.”
The review will take place between now and December 2020 with a view to publication of a report in early 2021.
Find out more about Advance HE’s work to support effective governance in higher education.