Thursday June 4, 2020

Mind the gap: executives can’t ignore public anger over huge pay packets

Shareholders should be sensible when determining salaries for company bosses. If they are not, governments may step in to allay voters’ concerns

27th October, 2019
Richard Grasso’s wage packet made global headlines in 2003

The most outrageously overpaid chief executive I have ever come across was Richard Grasso, the one-time boss of the New York Stock Exchange. In 2003, it emerged that Grasso, a man who had an exceptionally high opinion of himself, was in line for a deferred pay and pension package worth $140 million – on top of the generous remuneration he was already getting.

At the time, difficult as it is to believe today, the NYSE was a...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The former NTMA head says he is ‘quite alarmed’ at the potential for legal actions over the large number of deaths in nursing homes during the crisis

Michael Brennan | 1 month ago

Oil storage in the self-styled ‘Pipeline Crossroads of the World’ is full to the brim, but the black stuff keeps on coming. With much of the world’s economy in a Covid-19 slowdown, at one point last week, benchmark US crude oil was priced at minus $37.63 a barrel

Barry J Whyte | 1 month ago

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 2 months ago