The compensation of corporate executives should not be regulated by law or regulatory action, said a group of CEOs of large U.S. companies in a report published Monday.
On this issue, "an approach based on rules is devoid of the essential flexibility required to accommodate the diversity of sectors, strategies (...) and level of development represented by more than 12 000 U.S. companies "wrote the Working Group on Executive Compensation.
"We can not substitute the trial sensible rules needed to make sound decisions with regard to pay," said the group in the preamble to the report published by The Conference Board, a private economic institute.
These introductory statements raised, the report makes five proposals in the form of good intentions with the stated aim of "restoring public confidence", scalded by a number of scandals such as the severance pay granted to marvel bosses who chaired the collapse of their company.
The Working Group on executive compensation is composed of thirteen officers in active or honorary, used boards of a number of U.S. companies leading. The U.S. government has waived in June to curtail by law the compensation in corporate America, and particularly in banking, having stated that some excesses in pay and bonuses were behind the financial crisis.
In a column published Monday in The New York Times, Nobel Laureate Paul Krugman protests against the fact that "the payroll on Wall Street (are) coming back to their level before the crisis" and regrets that U.S. President Barack Obama does not seem to "be ready (...) to fight against the bankers."
On this issue, "an approach based on rules is devoid of the essential flexibility required to accommodate the diversity of sectors, strategies (...) and level of development represented by more than 12 000 U.S. companies "wrote the Working Group on Executive Compensation.
"We can not substitute the trial sensible rules needed to make sound decisions with regard to pay," said the group in the preamble to the report published by The Conference Board, a private economic institute.
These introductory statements raised, the report makes five proposals in the form of good intentions with the stated aim of "restoring public confidence", scalded by a number of scandals such as the severance pay granted to marvel bosses who chaired the collapse of their company.
The Working Group on executive compensation is composed of thirteen officers in active or honorary, used boards of a number of U.S. companies leading. The U.S. government has waived in June to curtail by law the compensation in corporate America, and particularly in banking, having stated that some excesses in pay and bonuses were behind the financial crisis.
In a column published Monday in The New York Times, Nobel Laureate Paul Krugman protests against the fact that "the payroll on Wall Street (are) coming back to their level before the crisis" and regrets that U.S. President Barack Obama does not seem to "be ready (...) to fight against the bankers."
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