The author states in 1976 average CEOs earned 36x as much as the average worker. In 1993 regulators mandated companies post CEO pay/perks hoping it would stop the rise in exec compensation as 1993 average CEO was paid 131x the average worker. It backfired and at the time of publishing (copyright 2009) average CEOs made 369x the average workers pay. What's wrong with this picture?!
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Take a look at the proxy, C level has protection clause “no fault” no matter what.
Latest incident all eyes on the cyber actor and not the top chief who allowed this to happen. Why? Time to market take precedence over due diligence before/during/post acquisitions.
No accountability required to be C level.
How about the “enforcer”? Like DOJ… Same game different players
Maximizing shareholder value is said to be the CEO job (not true). Profits are not put back into the business or workers; instead into the c-suites to ensure shareholder value is maximized for the board.
CEOs make their bonus and get a golden parachute on the way out; by cutting security, employees, training, quality, compliance, etc. CEOs only last on average 7 years, so the incentive is not long term gains or company health.
After one good year, CEOs can retire. If a CEO has a a multimillion dollar bonus tied to stocks at the end of the year, there is no incentive for long term health. The CEO will do what is needed to have the board approve the multimillion bonus and workers … well … ☹️