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Sarbanes-Oxley News & Developments
Director Compensation on the RiseAudit Committee salaries show signs of rising - now there is evidence of compensation for directors increasing.
> > At major companies, director compensation will rise 15% this year compared to 10% last year, according to Reuters. Increases in pay and in share awards is more than making up for cutbacks in the awards of stock options.
Director workload has increased by about a third, according to Reuters experts. An average director, commitments about 240 hours a year, up for 180 hours, estimates Charles Elson, Director of the John L.Weinberg Center for Corporate Governance at the University of Delaware.
Some of the extra hours may be incurred to guard against the threat of private litigation. Bit board members may also be taking more care with their duties due to emphasis by regulators on the conduct of the outside directors who are being held accountable for the misdeeds of others. The fear is that someone could depend on this as their full-time income and that is when they are no longer monitors, they become management.
Source: CFO
Published:2003-08-25
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