Bloated Pay Came Before Hain Celestial’s Error – The New York Times

Gretchen Morgenson writes in the New York Times about Hain Celestial, where excessive pay based on a skewed “peer group” should have been a warning sign of investment risk.

The Hain Celestial Group, a maker of natural and organic foods and beverages, has been riding high in the market. But on Monday it came crashing to earth when it disclosed an accounting problem, delayed its full-year financial report and said it probably wouldn’t meet its earnings guidance for 2016….Clearly, investors were stunned by Hain’s statement. Maybe they shouldn’t have been.According to corporate governance experts, clues to oversight problems at Hain have been evident for a while in its excessive executive pay practices and disdain for shareholders’ anger about them.

Source: Bloated Pay Came Before Hain Celestial’s Error – The New York Times

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