U.S. disclosure rules that took effect last year are prompting companies to reveal (in proxy statements) a wide variety of perks provided to CEOs in fiscal 2007. Examples:
- Kathleen Danenberg, Response Genetics Inc.: $86,622 for clothing expenses (since repaid).
- Micky Arison, Carnival Corp.: $115,884 for courtside Miami Heat basketball tickets (he owns the team).
- Bahram Akradi, LifeTime Fitness Inc.: $31,777, for high-speed wireless Internet access (to tap company systems from home).
- Martha Stewart, $5,000 for her yoga instructor.
Source: The Wall Street Journal 9 June 2008
The greatest concerns of U.S. CEOs
(% citing challenge as of “greatest concern”)
- Sustained & steady top-line growth (41.3%)
- Excellence in execution (39.6%)
- Consistent execution of strategy by top management (38.5%)
- Profit growth (29.9%)
- Customer loyalty/retention (25.6%)
- Finding managerial talent (20.9%)
- Top management succession (20.1%)
- Corporate reputation (19.7%)
- Stimulating innovation/creativity (19.2%)
- Speed, flexibility, adaptability to change (18.2%)
Base: Survey of 409 U.S. CEOs
Source: The Conference Board “CEO Challenge 2007” (4 October 2007)
Continue reading “What CEOs worry about”