Top leaders should communicate closely with salary-setters
March 6, 2015
By William Ehart
Your relationship with the compensation committee is among the most important of all board interactions, and can be fraught with the most peril.
Experts and former CEOs, as well as current association chiefs such as Paul Markowski of the American College of Chest Physicians and Larry Sloan of the Society of Chemical Manufacturers and Affiliates, say keys include frequent communication, dialogue rather than animosity, presenting unbiased peer compensation data and having an ally on the panel.
Sloan, CEO of $6 million-revenue SOCMA since 2010, has a rigorous process for dealing with the people who determine his salary.