Newsfeeds
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September 30th, 2009
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).
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Tags: Board of Directors Governance, CEO Pay
Newsfeeds
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September 14th, 2009
Published in Market Watch September 14, 2009 by By Alistair Barr
Compensation committee members should be worried, and that’s a good thing, say investor activists who target excessive executive pay.
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Tags: Board of Directors Governance
Newsfeeds
by Edie Kingston
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September 10th, 2009
Published in Reliable Plant September 10, 2009 by Newswire
A survey by the USC Marshall School of Business shows that most corporate board members believe parts of CEO pay packages need trimming, particularly in benefits and perquisites such as corporate jet rides as well as severance and retirement plans, said Professor Ed Lawler, the study’s author and director of Marshall School’s Center for Effective Organizations.
Filed under: Newsfeeds
Tags: Board of Directors Governance, Executive compensation, Executive Perquisites, Incentives Benefits
Newsfeeds
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June 2nd, 2009
Published in Investment News June 2, 2009 by Sara Hansard
Shareholders should be more power to bring lawsuits against companies for paying excessive compensation to executives, the chairman of the House subcommittee that has jurisdiction over securities matters said today.
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Filed under: Newsfeeds
Tags: Board of Directors Governance, Executive compensation
Expert Perspective
by Edie Kingston
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May 31st, 2009
Expert Perspective by Grahall’s OmniMedia Editor
I was fascinated to see the Eliot Spitzer (yes THAT Eliot Spitzer) had an article published in Slate.com but was even more interested to see that the subject was the apparent change of heart of one of the most prominently conservative federal judges, Richard Posner. Spitzer notes that “[Posner] is both the creator and the defender of the free-market theory that has guided deregulation for the past 30 years.” Further Spitzer notes that in a dissenting opinion, “Posner wrote that there is growing indications that CEO pay ‘is excessive because of the feeble incentives of the board of directors to police compensation…’”. Wow that is pretty left wing for Posner.
Continue reading “Management, Boards and Comp Consultants: A Change of Heart?” »
Filed under: Expert Perspective
Tags: Board of Directors, Board of Directors Governance, Compensation Consultant, Executive compensation
Newsfeeds
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May 24th, 2009
Published in The New York Times May 24, 2009 by Gretchen Morgenson
After decades of being shut out of the director election process by the Securities and Exchange Commission, shareholders scored a big win last week. The agency is considering making it easier for investors to nominate alternative directors to corporate boards.
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Tags: Board of Directors, Board of Directors Governance
Newsfeeds
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May 10th, 2009
Published in The Wall Street Journal May 4, 2009 by George Davis, Partner at Egon Zehnder International, an executive search firm.
As annual meeting season approaches – amid the continued outrage over executive compensation — another group now finds itself under scrutiny for its pay: Boards of directors.
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Tags: Board of Directors, Board of Directors Governance, Board of Directors Pay
Newsfeeds
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May 2nd, 2009
Published in MarketWatch May 2, 2009 by Alistair Barr
The way to limit excessive executive pay in the U.S. is to embarrass chief executives and compensation directors, rather than imposing more regulations, Berkshire Hathaway Chairman Warren Buffett said Saturday at the company’s annual shareholder meeting.
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Tags: annual meeting, Board of Directors Governance, CEO Pay
Newsfeeds
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April 25th, 2009
Published in The Wall Street Journal April 25, 2009 by Phred Dvorak and Kara Scannell
Sen. Charles Schumer plans to introduce next week a corporate-governance bill that would give investors an advisory vote on executive pay and require companies to name independent chairmen and elect directors annually.
The move is the latest and most comprehensive push to alter governance practices in the wake of Wall Street’s meltdown. Some provisions in the proposed bill respond to criticism that shoddy oversight and warped executive-pay practices allowed banks to engage in risky businesses that later imploded.
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Tags: Board of Directors Governance, Executive compensation, Say on Pay
Newsfeeds
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April 13th, 2009
Published in the Wall Street Journal on April 13, 2009 by Jonathan Macey
To socialize the American economy, it is not necessary to nationalize every business in the United States. All it requires is to put the corporations that control the finances of all of the companies in the economy under government control. And that is what is happening now.
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Filed under: Newsfeeds
Tags: Board of Directors, Board of Directors Governance, CEO Pay, Executive compensation
