Friday, April 21, 2006

And here is leadership

Note, I am not against CEOs making much money. That said, from a leadership position, making MUCH more than others can be demotivating, so in that light I have a new found respect for Susan Lyne the Chief executive of Martha Stewart Living Omnimedia (even if she did it for PR opportunity!).

From BusinessWeek:

No Hair Shirts, But Still...:
"Lyne got a cash bonus of $625,500 last year. Instead of pocketing it, though, she asked the board to give $200,000 to a bonus pool for employees and convert the rest into restricted shares that won't fully vest until 2009."
and then later in the article:
"There was a period of time in the 1990s when the bigger your pay package, the more people respected you,' says Lyne, who earned a $900,000 salary in 2005. 'I think that has changed -- dramatically. There's a very different sense of what makes a good leader of a public company.'"

BTW what is a Hair shirt????

1 comment:

KaptainMoney said...

I love it...I just can stand so see companies paying huge salaries to CEO and they are cutting back thousands of jobs or going bankrupt. But believe when I say that I have nothing against people making a lot of money. I enjoy myself quite well. It just doesn't sit right with me to see that.

So Bravo to Martha's CEO

Mortgage Note Buyer