"At its worst, capitalism provides inordinate, undeserved rewards to elite managers without regard for the rewards they deliver to shareholders".
"Not only did the volume of information delivered to shareholders vary considerably, but the candor with which it was presented was highly variable," he said in the speech.
A spokesman for Lord Black said that the bonuses had been fully approved and said that the board evidently considered them appropriate compensation for the value delivered to shareholders.
As Mr. Welch reminded prospective publishers in meetings last week, the company has delivered to shareholders an average annual return of more than 20percentt during his tenure.
In a comment piece for the Guardian, she said: "There is no clear cut model for success, but we strongly believe that across the [banking] sector, more must be done to ensure that executives are remunerated appropriately for the value they deliver to shareholders.
Of these 172 executives, 62, or 36%, have delivered to shareholders annualized total returns of 15% or greater during their brief tenures.
Along those lines, Alcoa reinstituted a share buyback plan that had been suspended during its Alcan bid, but it is likely that value will be delivered to shareholders by a bidder for the entire company.
Even with that taint, Nelson's tenure could be logged as a substantial success in terms of what he delivered to shareholders.
It's well documented: Companies that are closer to gender parity in management positions deliver return to shareholders that is 34percentt higher than for companies with the lowest female representation.
Fortune 500 companies with the greatest representation of one specific type of executive in management positions deliver return to shareholders that is 34percentt higher than for companies with the lowest representation.
