Critics Warn TARP Won’t Stop Excessive Pay
March 10, 2009 by Joseph McCafferty
Companies receiving funding from the Troubled Assets Relief Program (TARP) are experiencing a ban on golden parachutes and other incentives that encourage overly risky behavior. New commentary raises the question if further limitations would "undo any good" the performance condition does.
March 10, 2009 by Joseph McCafferty
Companies receiving funding from the Troubled Assets Relief Program (TARP) are experiencing a ban on golden parachutes and other incentives that encourage overly risky behavior. New commentary raises the question if further limitations would "undo any good" the performance condition does.
Canadian Banks to Hold Pay Votes
March 5, 2009 by Joseph McCafferty
A trio of Canadian lenders will hold annual advisory votes of executive pay, making them the first Canadian companies to do so.
March 5, 2009 by Joseph McCafferty
A trio of Canadian lenders will hold annual advisory votes of executive pay, making them the first Canadian companies to do so.
Alaska Air to Give Say on Pay Vote
March 4, 2009 by Joseph McCafferty
Alaska Air Group said its directors plan to include in the company's 2009 proxy statement a proposal giving shareholders a nonbinding vote on compensation for the five highest-paid executives of the parent of Alaska Airlines.
March 4, 2009 by Joseph McCafferty
Alaska Air Group said its directors plan to include in the company's 2009 proxy statement a proposal giving shareholders a nonbinding vote on compensation for the five highest-paid executives of the parent of Alaska Airlines.
TARP Firms Must Hold Pay Votes in 2009
February 27, 2009 by Joseph McCafferty
The Securities and Exchange Commission has confirmed that hundreds of federally supported financial companies must hold their first “say on pay” votes this year. These advisory votes represent an extraordinary expansion of this reform and will likely set the stage for a market-wide rule.
February 27, 2009 by Joseph McCafferty
The Securities and Exchange Commission has confirmed that hundreds of federally supported financial companies must hold their first “say on pay” votes this year. These advisory votes represent an extraordinary expansion of this reform and will likely set the stage for a market-wide rule.
SEC’s Walter Backs Say on Pay
February 19, 2009 by Joseph McCafferty
A top U.S. regulator yesterday backed the idea of giving public company shareholders a so-called say on pay on executive compensation, a concept gaining momentum among investors and lawmakers amid the financial crisis.
February 19, 2009 by Joseph McCafferty
A top U.S. regulator yesterday backed the idea of giving public company shareholders a so-called say on pay on executive compensation, a concept gaining momentum among investors and lawmakers amid the financial crisis.
Disney, Raytheon, Others Face ‘Say on Pay’
February 11, 2009 by Joseph McCafferty
The upcoming proxy season will be rife with proposals for “say on pay” measures, with approximately 100 proxy ballots to contain say on pay proposals.
February 11, 2009 by Joseph McCafferty
The upcoming proxy season will be rife with proposals for “say on pay” measures, with approximately 100 proxy ballots to contain say on pay proposals.
What You Need to Know for February
February 2, 2009 by Joseph McCafferty
For companies with fiscal years ending in December, February is generally one of the busiest months of the year. This is often the time when compensation committees consider base salary adjustments, finalize incentive decisions for the year just passed and decide on the design, performance criteria and specific metrics for this year. As you enter this critical time of the year, be aware that this may be a time when you cannot believe everything you see or read (except, of course, for these words of wisdom).
February 2, 2009 by Joseph McCafferty
For companies with fiscal years ending in December, February is generally one of the busiest months of the year. This is often the time when compensation committees consider base salary adjustments, finalize incentive decisions for the year just passed and decide on the design, performance criteria and specific metrics for this year. As you enter this critical time of the year, be aware that this may be a time when you cannot believe everything you see or read (except, of course, for these words of wisdom).
More Companies Adopt Say on Pay
January 30, 2009 by Joseph McCafferty
Intel has joined some 16 other U.S. companies to adopt a shareholder proposal allowing say on executive compensation.
January 30, 2009 by Joseph McCafferty
Intel has joined some 16 other U.S. companies to adopt a shareholder proposal allowing say on executive compensation.
Occidental Agrees to Hold Annual Pay Vote
January 28, 2009 by Joseph McCafferty
Occidental Petroleum, which in the past has dealt with much backlash from shareholders over its pay practices, has agreed to hold an advisory vote on compensation at its 2010 annual meeting and support federal “say on pay” legislation.
January 28, 2009 by Joseph McCafferty
Occidental Petroleum, which in the past has dealt with much backlash from shareholders over its pay practices, has agreed to hold an advisory vote on compensation at its 2010 annual meeting and support federal “say on pay” legislation.
What Aflac’s Amos Says on Pay
December 22, 2008 by Joseph McCafferty
"I love to be able to see employees and tell them they get to vote on me," Daniel P. Amos, CEO of Aflac, said to The Washington Post. "They get tickled. They'll say, 'I haven't decided if I'm going to vote for you or not,' and I laugh. Part of being a CEO, if you're a good one, is having a bit of politician in you, because what you're really doing is asking them for their support."
December 22, 2008 by Joseph McCafferty
"I love to be able to see employees and tell them they get to vote on me," Daniel P. Amos, CEO of Aflac, said to The Washington Post. "They get tickled. They'll say, 'I haven't decided if I'm going to vote for you or not,' and I laugh. Part of being a CEO, if you're a good one, is having a bit of politician in you, because what you're really doing is asking them for their support."
More Energy Firms Link Pay to Performance
December 15, 2008 by Joseph McCafferty
Forty-nine percent of CFOs at U.S. oil and gas exploration and production companies say their companies’ executive compensation programs are now more closely tired to performance than they were before new proxy disclosure rules became effective.
December 15, 2008 by Joseph McCafferty
Forty-nine percent of CFOs at U.S. oil and gas exploration and production companies say their companies’ executive compensation programs are now more closely tired to performance than they were before new proxy disclosure rules became effective.
Few Companies Volunteer ‘Say on Pay’
November 17, 2008 by Joseph McCafferty
As President-elect Barack Obama sets forth to take on Washington, legislation regarding say on pay is likely to be implemented early on. While boards are increasingly facing shareholder activist groups, very few companies are volunteering this approach as boards are weary of offering an advisory vote to shareholders.
November 17, 2008 by Joseph McCafferty
As President-elect Barack Obama sets forth to take on Washington, legislation regarding say on pay is likely to be implemented early on. While boards are increasingly facing shareholder activist groups, very few companies are volunteering this approach as boards are weary of offering an advisory vote to shareholders.
Cisco Considers Advisory Vote for Investors
November 14, 2008 by Joseph McCafferty
Christian Brothers Investment Services (CBIS) announced its continuing discussions with Cisco Systems regarding executive pay. CBIS has withdrawn a shareholder resolution requesting that investors be given an advisory vote because Cisco has agreed to discuss the issue.
November 14, 2008 by Joseph McCafferty
Christian Brothers Investment Services (CBIS) announced its continuing discussions with Cisco Systems regarding executive pay. CBIS has withdrawn a shareholder resolution requesting that investors be given an advisory vote because Cisco has agreed to discuss the issue.
Sun Board Approves Say-on-Pay Measure
November 10, 2008 by Joseph McCafferty
Sun Microsystems shareholders approved an advisory say-on-pay resolution at their annual meeting last week. About 67 percent of Sun shareholders agreed to ask the company’s board to allow shareholders to have an annual advisory vote on the compensation awarded to top executives.
November 10, 2008 by Joseph McCafferty
Sun Microsystems shareholders approved an advisory say-on-pay resolution at their annual meeting last week. About 67 percent of Sun shareholders agreed to ask the company’s board to allow shareholders to have an annual advisory vote on the compensation awarded to top executives.
Reconsidering Say on Pay Proposals
November 7, 2008 by Joseph McCafferty
A recent study by the Millstein Center for Corporate Governance and Performance at the Yale School of Management referenced numerous benefits from shareholder say on pay in Britain.
November 7, 2008 by Joseph McCafferty
A recent study by the Millstein Center for Corporate Governance and Performance at the Yale School of Management referenced numerous benefits from shareholder say on pay in Britain.
Directors Agree: CEO Pay Too High
October 23, 2008 by Joseph McCafferty
A majority of directors who attended the National Association of Corporate Directors earlier in Washington this week agreed CEO pay is too high.
October 23, 2008 by Joseph McCafferty
A majority of directors who attended the National Association of Corporate Directors earlier in Washington this week agreed CEO pay is too high.
EU Ministers Call for ‘Say on Pay’
October 6, 2008 by Joseph McCafferty
A meeting on Monday and Tuesday between the finance ministers and government officials of the European Union has "say on pay" as a crucial part of its agenda.
October 6, 2008 by Joseph McCafferty
A meeting on Monday and Tuesday between the finance ministers and government officials of the European Union has "say on pay" as a crucial part of its agenda.
Need to Know: October 2008
October 1, 2008 by Ira Millstein
Boards of directors continue to feel the heat over the meltdown in financial markets, with many critics placing the blame, fairly or not, on the backs of boards. Amid all the uncertainty, one thing is certain: Never before have such significant challenges been placed before management and board directors.
October 1, 2008 by Ira Millstein
Boards of directors continue to feel the heat over the meltdown in financial markets, with many critics placing the blame, fairly or not, on the backs of boards. Amid all the uncertainty, one thing is certain: Never before have such significant challenges been placed before management and board directors.
Eisner PEQ: Stephen Schwarzman
September 30, 2008 by Django Gold
The true rise of private equity coincides with the rise of one figure in particular: Stephen A. Schwarzman.
September 30, 2008 by Django Gold
The true rise of private equity coincides with the rise of one figure in particular: Stephen A. Schwarzman.
Eisner PEQ: Private Equity Pay Plans
September 30, 2008 by Django Gold
Large institutional investors are pushing public companies to take a page from the private-equity playbook.
September 30, 2008 by Django Gold
Large institutional investors are pushing public companies to take a page from the private-equity playbook.