Global CEO appointments: A very domestic issue
Tuesday 12 February 2013
The High Pay Centre
32-36 Loman Street
London SE1 0EH
When Sir Martin Sorrell, the chief executive (CEO) of the media company WPP, was asked in 2011 to justify his own pay package, he asserted that his company was forced to compete internationally for top executives. “"Look at what chief executives of media companies are paid in other parts of the world,” he said. “We are a worldwide company; we are the leading company in our industry. The comparison, whether you like it or not, is with other companies in the world.”
Pay consultants, headhunters and others who seek to justify high pay routinely refer to this supposed global market for executive talent, and to the dangers of a brain drain of allegedly precious individuals if compensation levels do not reflect what they claim is the highly competitive nature of this market. If this view holds sway, CEO packages throughout the world would have to equal those offered in the market where overall remuneration is highest, the United States.
In a new High Pay Centre report, David Bolchover has examined the top 500 global companies and the international appointments they have carried out. In this seminar, David Bolchover will present his findings and discuss the implications of them on the executive pay debate.
David Bolchover is a management writer. He is the author of three high-profile business books – Pay Check, The Living Dead and The 90-Minute Manager – and has published numerous articles on a broad range of issues relating to management and the workplace.
This event will be held at the offices of The High Pay Centre.
Closest tube station: Southwark and London Bridge
Map & directions available here.
The event is free of charge but places are limited.
To reserve a place, please send us an email.
Since the start of this year the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Capitalism not Cronyism
Interview with Simon Walker, head of the Institute of Directors, in the Daily Mail. Simon is on the committee steering our project on performance-related pay. "Over the last decade, it has quadrupled without any clear link to performance."
- FTSE 100 bosses now paid an average 130 times as much as their employees
High Pay Centre analysis suggests many top bosses are still paid hundreds of times as much as their staff
- Is it time for a maximum pay ratio?
Executive pay has rocketed from around 60 times the average worker to more than 170 times. Would a maximum pay ratio redress the balance?