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February 1, 2007

All Business: Survey: Many directors clueless on CEO pay

  • A new survey shows there are still plenty of cases of boards that are controlled by CEOs.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Shareholders worried about runaway executive pay are likely to be stunned by the findings of a new study that shows many board directors still have no idea how much their CEOs would collect if they retire, are fired or bought out.

    Board members also acknowledge they are struggling to rein in bloated executive compensation, but are counting on investors to lead the cause to knock it down.


     
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