Richard Ferlauto
Richard Ferlauto
best board companies directly executive indicator pay proposals targeted
All the proposals we have filed, even if they are not directly pay-related, have been targeted at companies that have problematic pay practices. We think that undeserved executive compensation is probably the best indicator of a board that isn't accountable to its shareholders.
boards directors elections gives hold structured theme
Elections aren't structured in a way that gives shareholders a voice. The big theme is to hold boards and directors more accountable.
create executive interests mechanism pay response symptom
The symptom was executive pay being non-aligned with shareholder interests and our response was to create an accountability mechanism for directors.
disclosure necessary
Disclosure is necessary but insufficient to restrain pay.
importance muscle splitting
That was the first flexing of shareholder muscle and that shareholders were emphasizing the importance of splitting those roles.
direction greater looking moves
We were looking for greater transparency, and this moves in the other direction.
amount ceos past wealth
The amount of shareholder wealth that has been transferred from shareholders to CEOs has doubled in the past 10 years.
fund gold met mutual pay rooting standard terms
We think that no mutual fund has actually met the gold standard yet in terms of aggressively rooting out pay that's not deserved.
bad leverage pay
The only leverage we have for bad pay is embarrassment.
blew past
In the past they blew us off, and now they're talking.
borne costs filling huge increased
Increased costs are being borne because they are filling huge deficiencies in the regulatory approach.