CEO Glenn Renwick

Read the daily newspaper or watch any mainstream news show on television and it seems clear that America’s concept of the corporation is under attack. In April this year much was made about reports that a majority of corporations are not paying taxes and everyone is familiar about the scandals of stratospheric executive salaries and bonuses of those who work for companies now asking for government bailout. Following the scandals of Enron,Tyco, and Adelphia among others, the Congress passed... Read Full Story

Corporate executive compensation has been a topic of discussion from the last few decades in the academic and research community. Corporations have ignored fair compensation policy for executives and upper level management with the argument that the over compensation is necessary to attract experienced and knowledgeable managers. The problem with this old argument is that it ignores the fact that corporate value is created by a team which includes employees, board of directors, mangers... Read Full Story

With the recent spike in options backdating scandals, the time has come to shift attention to advocating for bona fide improvements in the governance and oversight of executive compensation programs. Reforms are needed to protect against self-dealing by unscrupulous human resources, finance, legal and other executives involved in long-term incentive programs. Chief executive officers and chief finance officers, and in-house corporate lawyers are regulated by the Securities and Exchange... Read Full Story

The Securities and Exchange Commission filed civil injunctive actions against the former chief financial officer and former controller of Engineered Support Systems, Inc., respectively, alleging that they perpetrated a six-year fraudulent options backdating scheme. The action alleges they granted in-the-money stock options to themselves and to other officers, employees, and directors, without proper disclosure. The allegedly unlawful comp is approximately $20 million, $15 million of which... Read Full Story

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