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Manan Shah is a partner in the employee benefits and executive compensation practice at Jones Day in New York.
"That's very unusual," said Ira T. Kay, the director of the executive compensation practice at Watson Wyatt & Company.
Mr. Kay, 57, heads the executive compensation practice at Watson Wyatt Worldwide, which is one of the country's leading compensation consulting firms.
Laura Thatcher, the head of the executive compensation practice at Alston & Bird, said that his role raised serious questions about government interference in compensation in the private sector.
"The dot-com and new economy companies have rewritten all the rules," said Gary Locke, head of Towers Perrin's executive compensation practice.
As a result, said Michael S. Kesner, principal in charge of the executive compensation practice at Deloitte Consulting, it is not uncommon for payouts to management to reach 8percentt of a merger's total cost.
Similar(42)
It would also give shareholders a so-called say on pay, which is a nonbinding vote on executive compensation practices.
"But they are still paying themselves like partners — without the risk and personal exposure and accountability that they had when they were a partnership," said Jesse Brill, a well-known critic of executive compensation practices.
Outrageous executive compensation practices are a symptom of the failure of checks and balances that led to a crazed "anything goes" mentality at some companies during the recent financial bubble.
Siebel Systems, a maker of customer service software in San Mateo, Calif., and a company known for festooning its management and directors with stock options, agreed yesterday to change its executive compensation practices, modify its board and improve its disclosure of executive and director pay.
E4 BUSINESS DAY C1-10 Two Bidders for Vivendi Vivendi Universal narrowed the bidding for its entertainment assets to General Electric's NBC division and an investor group led by Edgar Bronfman Jr.. C1 New Corporate Governance Siebel Systems agreed to change its executive compensation practices, its board and its disclosure of executive pay.
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CEO of Professional Science Editing for Scientists @ prosciediting.com