Shareholders should have one number that's comparable from ''executive to executive and company to company,'' maintains the new SEC chairman.
Christopher Cox, the newly confirmed chairman of the Securities and Exchange Commission, is calling on companies to improve their disclosure of executive pay packages, according to Bloomberg's account of an interview with the Public Broadcasting Service's Nightly Business Report.
"I think you can look in the near future to the SEC for some improved rules on disclosure to make sure that, for example, shareholders can have one number, that the different kinds of executive compensation add up to a number that's comparable, executive to executive and company to company," Cox said in the interview. Investors need such information "in a timely way, before rather than after the fact," so they can discipline corporate boards that grant compensation packages they view as excessive.
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