When the US pay czar, Kenneth Feinberg, approved the compensation of the top executives at seven troubled financial institutions, he insisted that they all appoint an independent director as the board chair rather than the CEO. Several major investors — the Government Pension Fund of Norway, which manages $400 billion in assets, among them — believe that this splitting of the roles of Chairman and CEO should become mandatory for all public firms.
Should CEOs Be Allowed to Be Chairmen?
When the US pay czar, Kenneth Feinberg, approved the compensation of the top executives at seven troubled financial institutions, he insisted that they all appoint an independent director as the board chair rather than the CEO. Several major investors — the Government Pension Fund of Norway, which manages $400 billion in assets, among them — […]
November 09, 2009