Corporate Governance

Even CFOs Favor Say on Pay

By Fei-Lu Qian

According to a new survey by BDO Seidman, LLP, only 31% of chief financial officers at major technology companies believe that their companies allow shareholders to vote on their executive compensation plans. However, nearly two-thirds of the 100 CFOs surveyed ?personally feel shareholders should have a say on executive compensation plans.? Also, interestingly, 65% of CFOs give credit to the compliance requirements of Section 404 of Sarbanes-Oxley in improving their companies? processes. Another significant finding from this survey is that 81% of CFOs indicate that recent rules requiring more disclosure on executive compensation have had minimum impact on their companies to recruit and retain talented individuals.

?At a time when regulatory organizations are pushing for more executive compensation disclosure, it is reassuring that CFOs at technology businesses are supportive of shareholders having a greater voice in approving executive compensation levels,? said Andy Gibson, a Partner at BDO Seidman.

Full post as published by PomTalk on March 05, 2008 (boomark / email).