Of all the committee chairs on a corporate board, the head of the audit committee is generally the highest paid.
Since the inception of Sarbanes-Oxley, an audit committee chair's job requires more time, energy and diligence. Companies and their investors often make that extra investment of time worthwhile by paying the audit chair an attractive fee.
"It's very difficult in today's post-Sarbanes-Oxley environment to attract talented people with a desired skill set to serve on public company boards," said Rich Mack, senior vice president and general counsel at The Mosaic Co. in Plymouth, the 15th-largest public company in Minnesota. "That's driving the market in a manner where you need to fairly and competitively pay directors, who dedicate a substantial amount of their time each year to overseeing the company's affairs."
See full Article.
Posts
