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A coalition of US companies, investors and directors will today propose a radical overhaul of executive pay, calling for the elimination of controversial practices including severance payments, tax refunds and the personal use of corporate jets.
The group, formed by the Conference Board, a business organisation, will criticise corporate America for not reforming its compensation structures before the crisis, blaming that failure for causing a “loss of trust” in US companies.
The report by the coalition, which is backed by companies including the technology groups Cisco, AT&T and Hewlett-Packard, and large investors such as the California State Teachers' Retirement System, underlines the corporate sector's desire to quell public anger at excessive compensation and stave off government action on the issue.
“It is a lot better for corporations to get compensation right... than to have a governmental solution, because that inevitably tends toward the one-size-fits-all,” said Robert Denham, a close adviser to Warren Buffett who co-chaired of the Conference Board group.
The economic downturn and financial meltdown have widened the gap between executives' pay and the salaries of average Americans, prompting a wave of resentment towards business leaders.
The US Federal Reserve, other regulators and politicians are threatening to crack down on bankers' pay and many companies and investors fear similar strict rules could be imposed on the rest of the US corporate world.
The group's report says companies should avoid promising executives large severance payouts, “golden parachutes” when the company is sold and generous retirement plans that are not available to other employees.
一个由美国企业、投资者与董事结成的联盟今日将提交一份彻底改革高管薪酬的提案,呼吁各企业取消遣散费、退税及个人使用公司飞机等有争议的做法。
由企业组织世界大型企业联合会组建的这个联盟,将对美国企业界未在危机爆发前改革其薪酬结构提出批评,指责这一失误造成了民众对美国企业“信任的丧失”。
该联盟的报告突显出企业界希望平息公众对过高薪酬的愤怒,阻止政府就此问题采取行动。该联盟得到了思科、美国电话电报公司和惠普等科技集团,以及加州教师养老基金等大型投资者的支持。
世界大型企业联合会联席主席沃伦?巴菲特的顾问罗伯特?丹汉姆表示:“由企业自己改正薪酬结构比政府出手要好得多,因为后者必然倾向于对所有企业采取一刀切的做法。”
经济低迷与金融危机扩大了高管与美国普通民众之间的薪酬差距,引发了一波对商业领袖的不满。
美联储以及美国其它监管机构和政界人士已威胁要采取严厉措施限制银行家薪酬,许多企业和投资者担心,类似的严格规定会施加到其它美国企业身上。
该联盟的报告表示,企业应避免向高管承诺巨额遣散费、公司被出售时的“金色降落伞”,以及其他雇员无法享有的慷慨退休金计划。
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