Smith & Nephew board members have discussed moving the company’s share listing to the US, partly to escape the UK’s stricter attitude towards executive pay. According to two people familiar with the matter, the discussion over a listing change was prompted in part by efforts to narrow the gap between Mr Nawana’s pay at his former company Alere and his current role at the FTSE 100 medical devices maker, which he joined last May. As chief executive of Alere, a US medical diagnostics company, Mr Nawana earned a $8.6m pay package in 2016 and $11.1m in 2015.