The Corporate Library's Senior Research Associate, Paul Hodgson, recently wrote a piece for BusinessWeek commenting on findings from our 2009 CEO Pay Survey. Here's an excerpt:
Of course, it is not pleasant to have to tell the CEO that he or she has not earned a bonus. After all, the CEO might claim, possibly even with some justification, that the fault lies with Dick Fuld or Angelo Mozilo or whoever dreamed up credit default swaps and subprime mortgages. If I sat on that board, I'd ask, "When Lehman's and Countrywide Financial's stocks were going through the roof, helping to balloon an already inflated stock market, you didn't refrain from exercising your stock options then, did you?"
Read the full article on BusinessWeek's website.
