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Business

Allianz Makes Executive Pay Public

Allianz, Europe's largest financial services company, will begin publicizing salaries of top executives, the company's chief executive officer, Michael Diekmann, announced Tuesday. So far, only a minority of companies listed on the German stock index (DAX) have done so. A two-year-old "Corporate Governance Codex" -- introduced after a number of high-profile business scandals -- calls upon executives to make their earnings public. If most continue to resist voluntary compliance, Germany's Justice Minister, Brigitte Zypries, and others have said they will call upon the German parliament to pass a binding law.

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