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President Bush: Pay for Performance

President Bush: Pay for Performance

by Frank Roche on January 31, 2007

in Business, Pay

Bush Pay for Performance

President Bush became HR Leader-in-Chief today by touting pay for performance in his State of the Economy speech in New York. Mr. Bush weighed in on executive compensation, board governance…and font size:

America’s businesses have responsibilities here in America. I know you know that. A free and vibrant economy depends on public trust. Shareholders should know what executive compensation packages look like. I appreciate the fact that the SEC has issued new rules to ensure that there is transparency when it comes to executive pay packages. The print ought to be big and understandable. When people analyze their investment, they ought to see loud and clear — they ought to be able to see with certainty the nature of the compensation packages for the people entrusted to run the companies in which they’ve got an investment.

Government should not decide the compensation for America’s corporate executives, but the salaries and bonuses of CEOs should be based on their success at improving their companies and bringing value to their shareholders. America’s corporate boardrooms must step up to their responsibilities. You need to pay attention to the executive compensation packages that you approve. You need to show the world that American businesses are a model of transparency and good corporate governance.

Interesting points made by the President. And hey, here’s a new aspiration for HR: The heck with “a place at the table,” we want a chair in the West Wing.

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