said by FFH5:
What is needed are Boards of Directors that negotiate CONTRACTS that are tied much more tightly to meeting profit goals and not just the desire to get a so-called superstar CEO. And there should be terms that allow firing without any golden parachutes if the goals aren't met.
Will that mean, the Board won't always get the person they want? YES!! But if more Boards followed this practice, then prices will come down on CEO salaries and more accountability will be in the contracts.
Yes, yes, a thousand
times yes. Boards need to think beyond the next quarterly report and set up a beneficial long-term strategy for the company for which they are responsible. Getting a 'big name guy' in the CEO's chair should matter much less than getting someone who can be trusted to grow the company responsibly. Millions of people go to work every day knowing that their compensation and continued employment depend on how well they execute their responsibilities... why should CEOs be any different?
It's good to see that at least one stockholder sees things from the same viewpoint as us "little guys", FFH5
Hexadecimal humor really turns me 0FF.