"You're dealing with a government that's certainly not a model of governance," said Jerome Chevallier, who oversees the pipeline here for the World Bank, which partly financed the project.
Mr. Kay, at Pay Governance, said critics of current C.E.O.
"It is political domination as opposed to governance," said Ms. Snowe.
"The best politics is governance," said Andrew Zambelli, the counselor to the governor.
"Metropolitan areas are the step-children of American governance," said Mr. Katz.
Advocates for better corporate governance said the deal should have been scrutinized when the acquisition was made.
"The major reason for militancy is lack of democracy and governance," said Talat Masood, a political analyst and retired general.
"We fully support and commend Timken's decision announced today because it means they've listened to their shareholders," Anne Sheehan, Calstrs's director of corporate governance, said in a statement.
Roger Barker, director of corporate governance, said: "Mike Ashley is to be congratulated for recognising the governance concerns associated with this pay plan.
"It's an epochal shift because it brings the Vatican closer to a more collegial governance," said Paolo Rodari, a Vatican expert with the Italian daily newspaper La Repubblica.
"We spent and we still continue to spend a lot of time on thinking about governance," said Peter Barsoom, the chief operating officer of ICE Trust.
