Executive pay: it's all gravy
23 Dec, 2020 10:43 PM
2 minutes to read
The chief executive of Dick's Sporting Goods announced a token salary reduction but his losses were more than offset with additional share options. Photo / 123RF
Financial Times
LEX OPINION:
Business, culpable for the 2008-09 crisis, bears no blame for this year's downturn. But widespread financial distress — and a swath of job losses — prompted many chief executives to share modestly in
the pain.
Temporary salary cuts were often highlighted in company announcements. Unaltered incentive schemes, however, were rarely mentioned. Salary losses were sometimes covered by discretionary awards. The executive gravy train has suffered only temporary delays.