CEOs must turn their virus-prompted pay gestures into real reform
When the crisis is over, remuneration will be a lightning rod for public and political discontent. My hunch is that this time CEOs will recognise how fragile trust in business is.
For decades, chief executives seemed to be paid according to two rules of thumb. First, they deserved to earn more than the average business leader. Second, their pay should never go down.
Warren Buffett nicknamed the pay consultants who lubricated the remuneration merry-go-round “Ratchet, Ratchet & Bingo”.
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Financial Times
Andrew Hill is an associate editor and the management editor of the Financial Times. He is a former City editor, financial editor and comment and analysis editor.
