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Executive Pay: Time for CEOs to Take a Stand
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CEO pay has become a lightning rod for criticism and debate, but CEOs themselves have been largely absent from the conversation, says Procter & Gamble's former CEO. It's time to stand up for responsible compensation leadership and get rid of indefensible and inappropriate amounts and forms of compensation. The author's proposals include establishing simpler and clearer guidelines, eliminating post-employment provisions not based on performance, and creating a CEO-led coalition for responsible compensation. If CEOs don't take corrective action, he says, Congress surely will, and not necessarily in a form that will benefit anybody.