(Translated by https://www.hiragana.jp/)
Reining in Excessive CEO Pay
The Wayback Machine - https://web.archive.org/web/20140220230855/http://www.citizen.org/Page.aspx?pid=2510

Reining in Excessive CEO Pay

Fat cat compensation should play no role in responsible corporate performance at taxpayer-guaranteed banks. Prior to the financial crisis, the CEOs of the giant financial institutions that drove our economy off a cliff received exorbitant compensation packages. Corporate officers should be paid for long-term performance, not short-term illusions. Managers of financial firms receiving federal support should be accountable to taxpayers as well as shareholders.

To rein in excessive CEO pay and restore accountability, Public Citizen supports the following reforms:

  • Withhold bonuses for five years to ensure that the gains from any year will be stable.
  • Claw back bonuses from results that are later found to be illusory.
  • End the taxpayer subsidy for pay above $1 million (as a current loophole allows corporations to do for CEO bonus pay).
  • Empower shareholders by giving them a binding vote on executive pay packages.

Copyright © 2014 Public Citizen. All rights reserved. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation.
  Learn More about the distinction between these two components of Public Citizen.


Public Citizen, Inc. and Public Citizen Foundation

 

Together, two separate corporate entities called Public Citizen, Inc. and Public Citizen Foundation, Inc., form Public Citizen. Both entities are part of the same overall organization, and this Web site refers to the two organizations collectively as Public Citizen.

Although the work of the two components overlaps, some activities are done by one component and not the other. The primary distinction is with respect to lobbying activity. Public Citizen, Inc., an IRS § 501(c)(4) entity, lobbies Congress to advance Public Citizen’s mission of protecting public health and safety, advancing government transparency, and urging corporate accountability. Public Citizen Foundation, however, is an IRS § 501(c)(3) organization. Accordingly, its ability to engage in lobbying is limited by federal law, but it may receive donations that are tax-deductible by the contributor. Public Citizen Inc. does most of the lobbying activity discussed on the Public Citizen Web site. Public Citizen Foundation performs most of the litigation and education activities discussed on the Web site.

You may make a contribution to Public Citizen, Inc., Public Citizen Foundation, or both. Contributions to both organizations are used to support our public interest work. However, each Public Citizen component will use only the funds contributed directly to it to carry out the activities it conducts as part of Public Citizen’s mission. Only gifts to the Foundation are tax-deductible. Individuals who want to join Public Citizen should make a contribution to Public Citizen, Inc., which will not be tax deductible.

 

To become a member of Public Citizen, click here.
To become a member and make an additional tax-deductible donation to Public Citizen Foundation, click here.