ISOLATED and imperial chief executives who shun contact with the great unwashed — shareholders who actually own the companies — are a distressingly resilient breed.
That’s why the current “say on pay” movement, which requires companies to put executive pay practices to a shareholder vote, is so timely. It fosters fruitful dialogues between shareholders and the hired hands who run their enterprises.
Still, many company leaders continue to believe they are beyond reproach. So it’s refreshing to see executives consulting their shareholders for input on compensation and other hot-button issues.
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