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June 23, 2006
I Just Can't Imagine an American Executive Doing This
From the Financial Times (subscription required):
Toshihiko Fukui, the Bank of Japan governor, on Tuesday said he would take a 30 per cent cut in his monthly salary for six months to atone for the furore caused by his investment in a controversial fund.
Voluntary atonement in corporate life? Don't the Japanese know that the business judgment rule means never having to say your sorry (let alone atone)?
PS
June 23, 2006 in Commentary | Permalink
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Comments
That is really rare. I work for Winning Workplaces, a nonprofit that helps small and midsize businesses create better work environments. For an article I'm working for our e-newsletter, I just read today that American CEOs earn 232 times the salary of their average workers. That's 10 times over what they earned versus their workers over 40 years (in 1965, CEOs earned 23 times the salary of their average workers). When you factor in "golden parachutes" upon their retirement and the perfectionist and relentless mindset of most executives, a move like that by an American CEO would be all the more unusual. Thanks for sharing.
Posted by: Mark Harbeke | Jun 23, 2006 4:46:54 PM
