Published in Business Week September 30, 2009 by Jena McGregor
A majority of directors—the people who actually make decisions about CEO pay packages—believe CEO pay packages need trimming. In a significant shift from its 2006 survey, fifty-nine percent of respondents to a University of Southern California Marshall School of Business survey released earlier this month said there should be decreases in executive benefits and perquisites. Another 52% said retirement packages were too high, while a full 73% felt severance pay should be reduced. In 2006, just a minority of directors agreed with these statements (23%, 25% and 32%, respectively).