Bank of America CEO gets 73 percent pay increase in 2012

[Fern]

Uhm, when i worked for IBM, Sam Palmisano was both the CEO and also the Chairman of the board, it' happens very frequently.

In fact, Sam Palmisano sat on Exxon's board while an ex-Exxon executive sat on IBM's board.

"To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance."

LMAO. Open your eyes.

Edit: IBM's newest CEO is also chairman of the board

http://en.wikipedia.org/wiki/Ginni_Rometty

Edit 2: Good god, if conservatives knew how business really worked, you guys wouldn't be conservatives.

Can't help but act like an azz, can you?

OK, so I see that many boards have the CEO as the titular Chair, but almost all of these have a "lead/presiding director" that is not the CEO.

Just 3% of S&P 500 companies have neither an independent chairman nor a lead/presiding director, according to Spencer Stuart.

An example:

Earlier this year Goldman Sachs (GS) reached a compromise with a union pension fund over a proposal that would have caused CEO Lloyd Blankfein to lose his chairman title. Goldman agreed to appoint a “lead” director to bolster its oversight.

http://www.foxbusiness.com/business...rds-shift-toward-breaking-up-ceo-chair-roles/

Fern

 

[Fern]

Are you serious?

OMG the naivety

You've got to be kidding

See my above post.

Fern

 

[Phokus]

Can't help but act like an azz, can you?

OK, so I see that many boards have the CEO as the titular Chair, but almost all of these have a "lead/presiding director" that is not the CEO.



An example:



http://www.foxbusiness.com/business...rds-shift-toward-breaking-up-ceo-chair-roles/

Fern

That really doesn't matter, CEO's are supposed to have an arm's length relationship with their Board, it's really hard to be impartial when you're basically working together.

And besides that, even if this wasn't a problem, there's still the problem with CEO's sitting on each other's boards, 'independent' board members sitting on multiple boards, etc.

http://en.wikipedia.org/wiki/Interlocking_directorates

The idea that you think there's anything resembling responsible corporate governance is kinda funny.

 

[Fern]

That really doesn't matter, CEO's are supposed to have an arm's length relationship with their Board, it's really hard to be impartial when you're basically working together.

Yes, it really does matter.

And the CEO should either be on the Board, or at the very least attend every board meeting. Communication between the board and CEO is critical. If the CEO isn't there good communication can't happen.

Fern

 

[Phokus]

Yes, it really does matter.

And the CEO should either be on the Board, or at the very least attend every board meeting. Communication between the board and CEO is critical. If the CEO isn't there good communication can't happen.

Fern

lol, how can you make unbiased decisions on the ceo when he's at your meetings all the time and swinging golf clubs with you?

The Chairman of the board is the leader of the board. It's ridiculous to think the board can in any way be unbiased.

 

[max347]

What absolute utter tripe. You're not doing anything, you're not changing anything. You're railing at the heavens because you're upset about your own station in life.

.+1

 

[WackyDan]

This is complete bullshit, most shareholders don't have a say. I probably own thousands of companies through my index funds, you think i have time for all that?

And many times, the CEO is the CHAIRMAN of the board. And they sit on each other's boards. They don't want to rock the boat. That is the problem with CEO pay and there's nothing we can do about it until the government decides to get off it's ass and step in.

So what is your point? Mine is still valid. The problem is with the board regardless of whether the CEO is on it or not.

Saying you don't have time for participating yet complaining about it doesn't win you the merit badge either.

HP is a great example of how utterly fucked up a BOD can be but also a good example of shareholders rising up to make a statement and vote. We need more of the latter.

 

[dmcowen674]

Originally Posted by Greenman
What absolute utter tripe. You're not doing anything, you're not changing anything. You're railing at the heavens because you're upset about your own station in life.

.+1

Ah but I piss the likes of you off, Mission Accomplished