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The Compensation Handbook, Sixth Edition: A State-of-the-Art Guide to Compensation Strategy and Design, 6th Edition by Dorothy Berger, Lance Berger

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29

Structuring Board and Executive Pay

BRUCE R. ELLIG

Noted Compensation Specialist and Author

The challenge to the board of directors and its compensation committee is to ensure that executive compensation programs create a competitive business advantage within a rapidly changing business environment and meet stakeholders’ expectations. This will be examined in this chapter by reviewing the following 10 areas:

1.   Role of the board of directors

2.   Stakeholder impact on board actions

3.   Composition of the board

4.   Board performance and compensation

5.   Committees of the board

6.   Compensation committee

7.   Executive compensation philosophy

8.   Reasonable versus excessive executive pay

9.   Use of compensation consultants

10. Major ...

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