Wells Fargo chief forfeits $41m amid corruption probe – BBC News

Wells Fargo chief executive John Stumpf will forfeit $41m (£31.5m) in bonuses as the bank tries to stem a scandal over its sales practices.The bank has launched an investigation how more than two million deposit and credit card accounts were opened without customers’ permission.The bank said Mr Stumpf would not receive a salary during the…

SEC to Companies: Come Clean on CEO vs. Worker Pay Gap

In a lagged and dilatory but thought-provoking move in the US corporate governance and transparency landscape, SEC approved Dodd-Frank’s requirement on disclosing CEO vs. Worker Pay Gap after five years of procrastination (Congress passed the Dodd-Frank financial reform bill in July 2010. Dodd-Frank created the disclosure requirement but left the SEC to determine exactly how…

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…

Boards, Shareholders, and Executive Pay

  People disagree as to how useful say on pay votes really are. While some claim they strengthen the relationship between directors and shareholders, others argue that they do nothing to control or monitor executive pay. Overall, directors believe these votes have increased the influence of proxy advisory firms and encourage boards to look at…