More U.S. corporations are adopting pay-for-performance policies for senior officers, said a lobbying group for chief executives on Monday, as CEO pay continues to soar and regulators step in.
The Business Roundtable said a member survey also found a leveling in the costs of complying with 2002's Sarbanes-Oxley law, a package of accounting and corporate governance reforms adopted during the Enron-era scandals.
"For the first time, companies reported that costs of implementing the Sarbanes-Oxley law and new stock exchange listing standards have stabilized," said Steve Odland, chairman of retailer Office Depot Inc. (ODP.N: Quote, Profile, Research).
Odland, chairman of the Roundtable's governance task force, said the new survey showed companies estimating Sarbanes-Oxley compliance costs of more than $10 million dropped this year to 40 percent from 47 percent last year.
See full Article.
Posts
