The Secret NED on the trials of the remuneration chair
It’s undoubtedly a tough job, especially in this pay-sensitive climate. So why would anyone want to be remuneration chair? The Secret NED mulls it over.
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So let’s start with a quick question: Why did the chicken cross the road?
Answer: To avoid being chair of remuneration!
Is remuneration the poisoned chalice of the boardroom? I speak from personal experience, as this anecdote will reveal. I was a member of a rem (remuneration) committee discussing the packages of the board execs. The salary list was in front of us, including the long-standing chairman's.
As a new non-exec I was surprised to see that he was paid more than the CFO, and double the benchmark for the size of company we were. Somewhat indelicately I voiced this surprise. I didn't last long on that board and I learned the
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