Robert Kotick, president and chief executive officer of Activision Blizzard Inc., increased his compensation almost eightfold to $64.9 million last year, becoming one of the highest-paid CEOs in the U.S.
As much as higher education and corporate America would like to be engaged, college presidents are struggling to reconcile the demands and values of academia with shareholder skepticism about their boardroom commitments.
It is often said that social change can’t occur until what was seen as misfortune is seen as injustice. There is a corollary in the financial world. It says change can’t occur until what was seen as immaterial is seen as risky. That’s happening with executive compensation.
When I testify before Congress about corporate governance, I like to watch the faces of the committee members when I explain the rules for electing corporate directors. “I know you, better than anyone else, understand what the word ‘election’ means,” I say. “Well, in the wacky world of public corporations, you win even if 99 percent of the shareholders vote against you.”