October 6, 2004
Former Dupont Chair Jack Krol Talks About Internal Pay Equity
Yesterday, I was pretty excited to be in Delaware to videotape the critical panel for the October 20th executive compensation conference with Delaware Chief Justice Myron Steele, former Chief Justice Norman Veasey and Professor Charles Elson. That panel – “Director Liability and Responsibilities: The Changing Face of Delaware Law” – will be played on a delay basis as the first panel on October 20th.
But the real bonus was having Jack Krol – former Dupont CEO/Chair, who sits on a number of boards today – come in for a brief videotaped session. Jack urgently wanted to participate live on the panel “What Compensation Committees Should Be Doing Now” to urge others to consider the novel methodology implemented under his watch at Dupont – but he has a date conflict.
As we outlined in the Sept-Oct issue of The Corporate Counsel, one corrective approach to rolling back excessive pay is the “the internal check” – checking for “internal pay equity” at various levels within a company to ensure that the CEO’s compensation has not gotten out of line within the company. So now those of you that have registered for the conference – in person or by webcast – will be able to hear Jack explain how he accomplished this at Dupont as part of the panel for which he originally was slotted!
Is CEO Pay Really Changing?
Read this interesting interview with Josh Lurie on Whether CEO Pay Is Really Changing to read the interesting results of a CEO pay survey of 2400 companies over a three-year period.
8-K Webcast Transcript Coming Soon
Due to its length, it has taken the September 23rd panel a little longer than usual to clean up the webcast transcript – it will be up soon. Sorry for the delay! The audio archive is available now.