We need to stop paying bad CEOs millions, says Tracey Davies

[Bradley Prior]

We need to stop paying bad CEOs millions, says Tracey Davies

Just Share executive director Tracey Davies has called on the government, the JSE, and asset managers to address the problem of exorbitant pay packages for poor-performing CEOs.

 

[My_King]

Wow finally someone else said it

 

[Jet-Fighter7700]

article should read:

we must stop paying incompetent but correct Skin colour CEO's Millions

 

[ToxicBunny]

article should read:

we must stop paying incompetent but correct Skin colour CEO's Millions

What would you class as correct skin colour CEO's?

 

[My_King]

Can people really be too thick to grasp that one's salary should be proportionate to the amount of money you make for the company, or the financial value of the service you provide? Value determines pay.

Shareholders are hit hardest by 'excessive' CEO salaries. Policies on deciding CEO remuneration should include shareholders having some say, and very often they do.

Unskilled labour is as replaceable as an old toothbrush, With our unemployment crisis, creating more jobs with less pay will ultimately help more poverty stricken families than having a higher minimum wage but providing fewer jobs.

 

[Jet-Fighter7700]

What would you class as correct skin colour CEO's?

you know the answer to that.

I think everybody does.

 

[ShaunSA]

Poor performing CEO's? There's a little blue pill for that

 

[ToxicBunny]

you know the answer to that.

I think everybody does.

Well no, within the context of the article, what do you mean.

 

[My_King]

What would you class as correct skin colour CEO's?

The correct answer for someone living in South AFrica:

 

[Fulcrum29]

Tracey has long called on changing board compositions, however, it isn’t as easy. It is calling on changing culture, and she has always had an issue with white men in elite positions, and the issue isn’t white men per se.

I have long said that nepotism, cronyism and every other stable related to this is heavily entrenched in our businesses, especially with very conservative business philosophies.

The last thing we want is the state to intervene with this ‘white men’ privilege because they will then call on the composition which will swing business culture into probable collapse.

This is another matter which should be handled, organically, and yes, this is where asset managers must take the lead.

 

[Fulcrum29]

It is best to listen to the interview which is linked to in the article,

The article image is more than appropriate with Tracey's view.

 

[deweyzeph]

There's nothing stopping shareholders from proposing and voting on special resolutions to reign in the pay of a board of directors. They make it sound as if shareholders have no power to influence anything. The problem is getting 75%+ of shareholders, especially of a listed company, to agree on anything.

 

[ToxicBunny]

The correct answer for someone living in South AFrica:

View attachment 928463

Except the article actually heavily weights "Bad CEOs" to the wrong skin colour then.

 

[Botha22]

article should read:

we must stop paying incompetent but correct Skin colour CEO's Millions

You are joking right or just trolling.

They must stop paying incompetent CEOs millions, regardless of their colour.

 

[Jet-Fighter7700]

You are joking right or just trolling.

They must stop paying incompetent CEOs millions, regardless of their colour.

When you see how many CEOs who are the right colour,
but completely incompetent and incapable of doing even the most basic job.

yet you see highly competent CEOs unemployed due to their colour/connections.

Then you start to question why, we have such a mismanagement and corruption problem in SA.

 

[R13...]

When you see how many CEOs who are the right colour,
but completely incompetent and incapable of doing even the most basic job.

yet you see highly competent CEOs unemployed due to their colour/connections.

Then you start to question why, we have such a mismanagement and corruption problem in SA.

What CEOs are those?
Most if not all CEOs in private practice have done and continue to do well. Very well.

 

[cr@zydude]

There's nothing stopping shareholders from proposing and voting on special resolutions to reign in the pay of a board of directors. They make it sound as if shareholders have no power to influence anything. The problem is getting 75%+ of shareholders, especially of a listed company, to agree on anything.

In theory, yes. The problem is that shareholders don't vote and when they try to, they can get voted down if management controls enough shares, as happened at Naspers.

I have often wondered why the government doesn't push fpr board members at companies, given the large stakes the PIC often holds.

 

[Jet-Fighter7700]

What CEOs are those?
Most if not all CEOs in private practice have done and continue to do well. Very well.

Dudu meyenyi, need I say more?

I wouldn't trust her to do the most basic job, like checking me in to the CORRECT flight and the seat I wanted.

 

[R13...]

Dudu meyenyi, need I say more?

I wouldn't trust her to do the most basic job, like checking me in to the CORRECT flight and the seat I wanted.

Dudu was CEO of what?
You have her names and roles all wrong too.

 

[Mystic Twilight]

Excluding monopolies, oligopolies, and SEOs, I don't see why this is a problem for private companies. Yes the ethics is bad and greedy by modern community standards, but assuming no laws are broken then the issue of high pay is an internal company problem and doesnt need external interference (reminds of the sme minister saying successful foreigner owned spaza shops needs to share there secrets and profits to unsuccessful south african spaza shops) with the jse and asset managers getting involved, the article solution calling for shareholders to be involved is a bit of a "duh" thing.