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- Title
Boards Need to Act On Executive Perks.
- Authors
Marshall, Jeffrey; Heffes, Ellen M.
- Abstract
The article reports that the U.S. Securities and Exchange Commission has issued tougher rules regarding disclosure of prerequisites from compensation committees, following a review of former General Electric Co. Chief Executive Officer Jack Welch's pay package. The article presents a list by author Bruce Ellig of rules which would likely increase good corporate governance ratings if followed by committees. The list suggests that companies select a qualified executive compensation expert to work with management, but be responsible to the committee, determine the changes, if any, that will result in the approved plans because of unexpected changes in stock price and company financial performance, and establish stock plans and options that are no longer than five years.
- Subjects
UNITED States; EXECUTIVE compensation; EMPLOYEE benefits; FINANCIAL performance; UNITED States. Securities &; Exchange Commission; INDUSTRIAL management; ELLIG, Bruce; CORPORATE governance; COMPENSATION management; CORPORATE directors
- Publication
Financial Executive, 2004, Vol 20, Issue 9, p11
- ISSN
0895-4186
- Publication type
Article