Expert Perspective by Grahall’s OmniMedia Editorial Board
On April 30, 2010 Towers Watson released a statement about some changes to their Executive Compensation business (Towers Watson Aligns Executive Compensation Consulting Strategy With Evolving Range of Client Needs). The press release announces that: “ After an extensive three-month review of the executive compensation (EC) consulting market in the U.S., Towers Watson today reaffirmed its commitment to the EC consulting business, while reorienting its strategic approach to meet the evolving needs of clients.” The press release goes on to say that for Boards that want separate compensation advisors for the board and management, TW “will focus on providing EC consulting services to management” and an “independent, non-affiliated consulting firm, Pay Governance LLC will be formed, staffed by former Towers Watson EC consultants who will serve as Board-level advisors.”
Well that’s a very market savvy approach although we are pretty surprised that TW needed an “extensive review” to determine that independence is a necessary configuration for providing executive compensation services to Boards.
Continue reading “Doing What’s Right” »