A new report from ISS finds that CEO pay plans that get the highest “no” votes from shareholders are more likely to be less diverse. In other words, boards with more diversity are less likely to proposed CEO pay plans that shareholders deem excessive. Interestingly, it was not just high-profile, large companies that were the…
Tag: ceo compensation
Agenda – Incentive Pay Under Fire
Sen. Elizabeth Warren (D-Mass.) has Wells Fargo & Co. in her cross hairs again. Last week newly elected board chair Stephen Black received a letter from the Massachusetts senator asking for details on CEO Charles Scharf’s compensation incentives, including specific metrics regarding governance and regulatory compliance targets and Scharf’s performance against them. On the same…
Top chief execs ‘paid more in a year than a UK worker gets in a lifetime’ | Executive pay and bonuses | The Guardian
The annual pay of FTSE 100 chief executives fell during the pandemic but still equates to what a key worker would earn in a lifetime, according to a report that highlights the UK’s wage divide and the taxpayer support that has kept some companies afloat. The bosses of companies in the blue-chip share index were…
Proxy Season Review: A Record Number of No Votes on CEO Pay — As You Sow
The 2021 proxy season (proxies voted between 7/1/20 to 6/30/21) was a record breaker on several levels. On one level, 16 companies had failed advisory votes on pay, an increase from the 10 in 2020 and 7 in 2019. On a deeper level, the trends are more remarkable – 32 S&P 500 companies had more…
Media CEO Salary & Pay: Richest Hollywood & Tech Executives – Deadline
VEA Vice Chair Nell Minow is quoted in this article about the way compensation committees are altering incentive pay benchmarks to shovel more money into the bank accounts of CEOs. Nell Minow, vice chair of ValueEdge Advisors, which guides shareholders on how to use their rights to preserve portfolio value and diminish risk — including…
C.E.O. Pay Remains Stratospheric, Even at Companies Battered by Pandemic
From the New York Times: “We’ve created this class of centimillionaires and billionaires who have not been good for this country,” said Nell Minow, vice chair of ValueEdge Advisors, an investment consulting firm. “They may build a wing on a museum. But it’s not infrastructure — it’s not the middle class.” The gap between executive…
CEO Pay Surged in a Year of Upheaval and Leadership Challenges – WSJ
CEO pay surged in 2020, a year of historic business upheaval, a wrenching labor market for many workers and unprecedented challenges for many leaders. Median pay for the chief executives of more than 300 of the biggest U.S. public companies reached $13.7 million last year, up from $12.8 million for the same companies a year…
Let Them Eat Tacos: Chipotle Board Wildly Overpays the CEO Because Pandemic
Chipotle’s board has decided that their CEO deserves extra pay due to the pressures of the pandemic. So, “we made “COVID-related modifications” to CEO’s performance shares that increase the total level of his reported compensation from $14.8 M to $38 M.” Compensation Committee: Chairman: Neil W. Flanraich Patricia Fili-Krushel Greg Engles Mauricio Guttierez The board…
Executive Compensation and Climate Targets
As environmental, social and governance (ESG) issues increasingly take center-stage, there is more interest from investors and boards in putting climate targets in their compensation policies. “Willis Towers Watson is partnering with Climate Governance initiative in collaboration with the World Economic Forum to survey and interview board directors and Remuneration Committee members to understand how…
Starbucks Shareholders Reject Executive Pay Proposal – WSJ
Starbucks Corp. shareholders rejected the coffee company’s executive compensation proposal, a rare rebuke to a major U.S. company. The plan voted down by Starbucks shareholders Wednesday includes millions of dollars in bonus and retention pay for Starbucks’ chief executive, though the resolution was nonbinding and may not affect executives’ compensation. Only 10 S&P 500 companies…
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