Posted On: October 21, 2006
Corporate boards need to take a lesson from the Oakland A's
The New York Times business page contained an interesting article on CEO pay. The article points out that there are plenty of people willing to work as CEO of a company for as well as and for much less than the excessive amounts routinely paid:
As Mr. Joss, the Stanford dean, sees it, there is more than one lesson to the story. Certainly, board members should realize that no employee is irreplaceable. But they should also remember that they have great leverage in pay negotiations, because being a chief executive — like being a big-league manager — is an enormously appealing job.“Not only is it good economically, but it’s meaningful work: The executive is doing something he loves, and he is part of something,” Mr. Joss said. “You wonder how many C.E.O.’s would really leave these jobs.”
Bookmark: 
