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washingtonpost.com
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Special Reports
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Governance
Excellent Year for Executives Take-home pay for chief executives at some of the largest U.S. companies swelled last year, driven by fatter bonuses and bigger payouts from long-term incentive plans. Dissatisfied Investors Push Corporations to Reform PEMBROKE, Bermuda -- In 1996, no board members bothered to show up for Tyco's annual meeting. The few shareholders who attended heard from just one man: chairman and chief executive L. Dennis Kozlowski. When one investor complained about not being able to question directors on the company's ferocious appetite for acquisitions, Kozlowski brushed him off. Declining a Place at the Table When Richard K. Armey left public life earlier this year, he received a handful of offers to join corporate boards. The former House majority leader appeared to have the perfect high-profile director's risumi: Capitol Hill power broker, PhD and former economics professor, tax-cut evangelist. But after considering the possible hazards of board service and discussing the issue with former Maine senator George J. Mitchell, a boardroom veteran, Armey rejected every offer. Bond-Rating Firms Get Into Governance When bond-rating agency Standard & Poor's Corp. launched a service in 1998 to assess how effectively companies are run, executives planned to concentrate on Europe, Asia and other places. Then S&P realized that the biggest market might well be the United States. In the News
Save the Chair for the Chief?: There's Concern but No Consensus About CEOs Leading Boards (Post, Feb. 7, 2003)
Disney Draws Criticism For Removing Dissident (Post, Feb. 4, 2003) Stock Options Becoming Pay-Plan Dinosaurs?: Image-Sensitive Firms Get Creative With Perks (Post, Jan. 31, 2003) NYSE, Nasdaq Face Test Living Up to Tough Talk: New Rules Proposed, but Doubts Remain (Post, Jan. 21, 2003) © 2002-2004 The Washington Post Company |
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Governance
Ben White is a New York-based reporter. He is writing a series of articles examining the way companies are being run, assessing changes in the make-up and independence of corporate boards and the power and pay of top executives. The series will also gauge the impact of new laws and stock market listing standards. 
