, Columnist
CEO Pay Up 940% Faces Its Coronavirus Reckoning
Corporate leaders are responding better than during the 2008 crisis, by moving to share their employees’ pain.
CEOs such as Qantas’s Alan Joyce are sharing the pain.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Large institutions resist change, and nowhere more so than in the way they pay their bosses.
Despite scandals and crises, executive compensation has remained too generous, too opaque and too loosely linked to long-term goals. The upheaval wrought by the Covid-19 pandemic provides the opportunity for a remake: Simpler, smaller packages with a more significant non-financial component would mark a welcome shift.