Now listen up. I have something to say.
Dan Hesse, CEO of Sprint, gave back $3.4 million in executive bonus compensation after shareholders complained. Sprint is on the rocks yet the executives rake in money like leaves in an early fall. The CEO of Aviva, Britain's largest insurance company, resigned after a shareholder revolt over his salary. Arriba Aviva!
The CEO of Yahoo! is being asked to resign by shareholders because his resume, vetted by experts, listed a degree in Computer Science, he never had. He is paid $millions to layoff thousands of Yahoo! employees with accurate resumes. He called his extra college degree an oversight. The fact that he is still working for Yahoo! is a serious slap in the face to every Yahoo! employee and shareholder.
Who hires these CEO's? Boards of directors do. They typically walk away unscathed by their inept hiring and unfair compensation decisions. It seems the more a company loses the more they pay the CEO. I applaud the shareholders who band together to force action. However, if the shareholders just dumped their stock, it would send a more compelling message to management teams that extract exorbitant compensation packages at the expense of the shareholders.
If you own stock in these companies, sell it.
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