Wall Street Journal (May 19)
“If the U.S. had not come to the aid of the Korean people, or if we in the South had lost the war, I would not be standing here.” Kwon Oh-joon, CEO of steel manufacturer Posco, made this comment when he received the Korea Society’s Van Fleet Award in New York.
Tags: CEO, Kwon Oh-joon, New York, Posco, South Korea, Steel, U.S., War
Wall Street Journal (April 7)
“Compensation for the chief executives of the biggest U.S. companies fell more sharply last year than any year since the financial crisis, as weaker corporate performance slowed cash bonuses and accounting rules pared back pension growth.” CEO pay at the largest companies dropped by “3.8% to $10.8 million last year from $11.2 million in 2014.”
Tags: Accounting rules, Bonuses, CEO, Compensation, Financial Crisis, Pension, U.S.
Wall Street Journal (May 28)
JPMorgan’s CEO Jamie Dimon told the “the truth about proxy advisory firms” when he urged investors not to blindly follow their guidance on corporate governance and shareholder votes. Firms like Institutional Shareholder Services Inc. and Glass Lewis & Co. “have enjoyed far too much influence over companies they don’t own and been subject to far too little scrutiny given their potential conflicts of interest.”
Tags: CEO, Conflicts, Glass Lewis, Governance, Guidance, Influence, Investors, ISS, Jamie Dimon, JPMorgan, Proxy advisory firms, Shareholders, Votes
Forbes (July 20)
The computer maker Lenovo “had a banner year in 2011, with its profits up 73%.” CEO Yang Yuanqing did something unusual with his bonus, which was $3 million more than last year. “He decided to give that raise to his employees instead of himself, and divided it among 10,000 lower-level employees—receptionists and factory workers and the like. They got an average of 2,000 yuan, or $314, apiece.”
