Executive and director compensation has been one of the hottest topics in board governance during the past year. Fueling the compensation debate are such factors as U.S. Securities and Exchange Commission (SEC) disclosure reforms, continued concerns over the size of pay and severance packages, and increased activism in the U.S. Congress relative to executive compensation issues, among others.
At Foley’s sixth annual National Directors Institute on March 8, 2007 in Chicago, “Executive and Director Compensation Trends” was a featured session moderated by Jay Rothman, partner and chair, Transactional and Securities Practice, Foley & Lardner LLP. The panel included David Chun, chief executive officer and founder, Equilar, Inc.; Timothy E. Flanigan, senior vice president and general counsel, Tyco International Ltd.; Michael Kesner, principal, Executive Compensation Practice, Deloitte & Touche LLP; Patrick McGurn, executive vice president and special counsel, Institutional Shareholder Services; and David E. Schwartz, vice president, assistant general counsel, and secretary, TECO Energy, Inc.
