June 25, 2008
The Consultants Speak: How the Latest Compensation Disclosures Impacted Practices
Join Mike Kesner, Doug Friske and Fred Whittlesey tomorrow for this CompensationStandards.com webcast: “The Consultants Speak: How the Latest Compensation Disclosures Impacted Practices.” It should be pretty interesting to see if the tail is wagging the dog…
McCain Joins “Say on Pay” Wagon
Recently, Senator John McCain has been speaking out against excessive executive compensation and has now joined Senator Obama in calling for mandatory “say on pay.” Here is a Business Week article about this – and here is an excerpt from McCain’s June 10th speech:
“Americans are right to be offended when the extravagant salaries and severance deals of CEOs … bear no relation to the success of the company or the wishes of shareholders,” says McCain, adding that some of those chief executives helped bring on the country’s housing crisis and market troubles. “If I am elected president, I intend to see that wrongdoing of this kind is called to account by federal prosecutors. And under my reforms, all aspects of a CEO’s pay, including any severance arrangements, must be approved by shareholders.”
The proposals that both Senators Obama and McCain support not only would provide shareholders an annual non-binding vote on executive pay, they would also provide shareholders with a separate non-binding vote when a company gives a golden parachute to executives while simultaneously negotiating to buy or sell the company.
With H&R Block joining the list, there are now nine companies that have agreed to a non-binding vote on pay.
Last Days: Early Bird Discount for Our Conferences
Don’t forget that Monday is the last day to take advantage of the early bird discount for both the “16th Annual Naspp Conference” and the combined “Tackling Your 2009 Compensation Disclosures: The 3rd Annual Proxy Disclosure Conference” & “5th Annual Executive Compensation Conference.” The deadline won’t be extended.
And remember that registration for attendance to these Conferences – either in New Orleans or by video webcast – entitles you to a discount for the upcoming Lynn and Romanek’s “The Executive Compensation Disclosure Treatise & Reporting Guide.” So there are two benefits to registering for one (or both) of these Conferences today.
– Broc Romanek, CompensationStandards.com