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Microsoft Adopts 'Say on Pay'

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What should Steve Ballmer be paid? Shareholders will soon get to weigh in. "Microsoft on Friday became one of the most prominent US companies to give shareholders a formal voice in executive compensation, addressing a key issue for activist investors and politicians," the FT reports. But don't expect widespread adoption of the rule to have a positive impact on ineffective boards. “The real issue is replacing directors that don’t do a good job on pay,” said Charles Elson, director of the University of Delaware’s John L. Weinberg Centre for Corporate Governance. “If you don’t do a good job on pay, you probably don’t do a good job on other things.”

SOURCE:   Financial Times