"Graef Crystal, a pioneer in compensation consulting, analyzed the 2009 pay of 271 chief executive officers. His findings? 'Simply put,' Crystal says, 'companies don't pay for performance.'
.... Crystal, 76, developed the formulas he uses over the course of 30 years advising companies....In an ideal world, Crystal and many investors agree, stock performance and CEO pay would be closely aligned. But no matter how he parsed the numbers, Crystal discovered no relationship between shareholder returns and CEO compensation."
Wednesday, June 23, 2010
How Much Is a CEO Worth? - BusinessWeek: