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He was 62, a goldenparachute strapped to his back, but no hobbies or interests beyond business. Some find happiness pursuing interests that evaded them during the demanding years in the C-suite. At one time I worked for a hard-driving fellow who was pushed out of the corporate cockpit.
They are innovating in ways that create virtuous circles for a generation or more." In 2009 he called off the $7 billion acquisition of Sun Microsystems in part due to Sun's egregious goldenparachutes. Forward-thinking leaders are not just achieving measurable success in the short-term.
As an example, last March, 68% of Swiss voters approved a measure giving shareholders the right to block executive and Board pay packages, outlawing “goldenparachutes,” and increasing transparency regarding loans and retirement packages, according to the Wall Street Journal. Yes, Switzerland. But it also involves speaking out.
We have also seen innovation in other dimensions of pay that are more important than ratios – for example, the lengthening of vesting horizons (to encourage the CEO to think for the long term) and paying executives with debt rather than just equity (to dissuade excessive risk-taking).
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