Micron CEO Stephen Appleon is the 25th most overpaid CEO in America according to a Business Insider story, citing proxy advisory group Glass Lewis's CEO pay survey. Appleton trousered $8,448,639 pay in 2009. The pay level is computed from salary, bonuses, stock options and golden hellos. Micron CEO STeven Appleton A Glass …
Talent isn't as scarce as they would like us to believe
Why is there a false belief that there are only a very few people that are capable of running large companies?
I know it is in these top board members interests to continue this lie as their huge salaries depend on shareholders being hoodwinked into thinking they are irreplaceable.
The sooner everyone wakes up and starts to recruit outside this self proclaimed "elite" the sooner there will be proper competition for the top jobs and finally these people will br forced to earn realistic remuneration.
Get real... most of those bosses are overrated sub-politicians with an army of aides and consultants doing the real work...
Anonymous, my boss being one of those...
Re: Talent isn't as scarce as they would like us to believe
"I know it is in these top board members interests to continue this lie as their huge salaries depend on shareholders being hoodwinked into thinking they are irreplaceable."
Board members do not receive salaries. Their direct expenses are covered, and they are paid a meeting fee. Their compensation only comes from being owners. So they are usually pretty motivated to have someone get the value of the company up.
Executive talent is scarce. Most people don't know the basics of even how public company's work, including yourself. Usually CEOs held either VP or C level positions elsewhere. And VPs were Directors previous. And Directors were previous Managers. Yes, the few that make it are the "elite", but that is because they made it.
? don't get paid?
"Board members do not receive salaries. Their direct expenses are covered, and they are paid a meeting fee. Their compensation only comes from being owners. So they are usually pretty motivated to have someone get the value of the company up."
er, not so in many many companies. Members of the board very often get salaries - often ver lucrative ones.
page 4 gives the salaries / fees of the board....starting with the chairman who in 2004 got 1.1million salary plus a load of other stuff...
Even the 40 year old (very experienced obviously) finance director was on half a million. At 40 - for heavens sake at one point he would still be regarded as wet behind the ears not a half millon a year director!
Executive talent scarce?
I would agree, its very scarce, just look at the number of failing companies.... And don't go away with the idea that the executives of companies are actually talented. Its clear with the failures that they are not, what isn't obvious but is also true is the number of 'successful' companies who owe NONE of that success to the 'executives'. Most of these executives are taking far too much out of companies and putting nothing of value back in.
Good examples include the 'very experienced' and 'very talented' 40 year olds who took successful British banks, turned them into basket cases bailed out by the tax payer and then scarpered with millions in pension funds....
No, the previous post was correct, the vast - overwhelming - majority of these executives owe their position to friends not talent, their pay is a combined effort to pretend they are indispensible, and its all so much bull. OK for those on the gravy train, untouchable by the politicians that hope to hitch a ride on the train later, and doing the economies of the western world no favours at all. If ANY of the companies were even half as successful as those in China which are responsible for trade surpluses per month bigger than most economies production in a year then we would be in the midst of a global success story.
Personally I would sack every one in the UK being given more than 100,000 a year on the grounds they aren't worth it.
God saves America and give the average American a job
I am totally flabbergasted.
First you have the America goverment blaming China for undervaluing its currency and therefore the average Americans are losing their jobs.
Second you have the American MNC shifting its operations to offshore because they are looking at bigger profit margins.
And now what, you have the Dire Straits financial institution and MNC company with CEO and top executives reaping off the company while the average Americans losing their jobs.
What a shame !!! God Saves America