In the executive bubble it’s referred to as performance-related pay. But it’s no such thing: its mostly luck-related pay – and in this case,the luck of attend-to-buy[br]
• Stefan Stern is director of the tall Pay Centre and co-author of Myths of ManagementIt’s not every day that a housebuilder admits something has been badly designed. Even more strange is the sight of not one but two senior company directors resigning on the grounds of their poor judgment. But the chair of Persimmon, Nicholas Wrigley, and his senior colleague,Jonathan Davie, chair of its remuneration committee, or have both quit after acknowledging that the pay deal which will deliver more than £100m to the company’s chief executive,Jeff Fairburn, was flawed. Related: Persimmon chair quits over failure to rein in CEO's 'obscene' £100m+ bonus Continue reading...
Source: guardian.co.uk