“Even before TARP, the Federal Reserve was doing things to provide much-needed liquidity to some of the banks, and I believe that played an important role in stabilizing the system.”
Frederic W. Cook
February 7, 2011 By
“Many companies don’t think of themselves as an enduring institution; rather, they see themselves as an economic entity that’s tied to its current value. Executives whose goal it is to maximize the company’s current value will think and act differently from those whose goal it is to build long-term sustainable value for future generations.”
Robert McCormick, Esq.
February 7, 2011 By
“In the past we may have recommended voting against the compensation committee; now we would recommend voting against the say-on pay proposal. There’s been some criticism that it’s a blunt tool, but a vote against directors is even blunter, I would say.”
Anne Sheehan
February 7, 2011 By
“We’re really focusing on pay for performance. One of our mantras, as we talk to companies about executive compensation, is long-term metrics and pay for performance. As you can appreciate, as a teachers’ retirement fund, we are the quintessential long-term investor.”
John A. Seethoff
February 7, 2011 By
“Boards should assert leadership for stronger governance. A corollary of that is directors being more public in talking about what they do and what their views are. There continues to be a lack of understanding about how boards work and the tremendous quality of the vast majority of boards and individual directors.”
Say on Pay Pioneer: Margaret Foran
October 1, 2010 By
Say on pay is one of the most important topics in any discussion of executive compensation today. Peggy Foran and her team at Prudential have done more than discuss it, however. The company has been a corporate pioneer in soliciting feedback from its investors, then implementing say on pay. Will this become a model for all public companies?
Washington Pioneer: Robert J. Jackson, Jr.
October 1, 2010 By
Robert J. Jackson, Jr. is Associate Professor of Law at Columbia Law School, where his research projects focus on the empirical study of corporate governance. Professor Jackson previously served as an advisor on executive compensation and corporate governance to senior officials at the Department of the Treasury and as Deputy Special Master for TARP Executive Compensation. As he says, “The notion that we’d have a government official charged with setting compensation at some of the largest public companies was something we’d never done before.”
Triple Threat: Consultant/Director/Teacher: Jim Woodrum
October 1, 2010 By
Jim Woodrum is a board member, a consultant, and a teacher at the University of Wisconsin-Madison. He’s leery of unintended consequences. According to Jim, “Every company has its own specific risks, which aren’t necessarily dealt with effectively through broad-brush legislation.”
The Legal Eagle: Thomas Welk
June 15, 2010 By
It’s still important to make sure that the programs and policies are designed to encourage the behavior
that the company wants.
The Strategist: Mike Halloran
June 15, 2010 By
The topic of executive compensation is about as hot as it can be.
