REWARDING CEOs WHO LEAVE

The most pernicious evidence of excessive pay to chief executive officers is the treatment that is accorded those who leave.

We have, egregiously, situations like Bankers Trust being bought by Deutsche Bank in which the former CEO was paid a king's ransom not to continue to work.

Even worse was the acquisition of Paine Webber.

Not only did the CEO receive the usual king's ransom, but he uniquely was accorded the capacity to run a new company that was to be funded by the acquiring company's assets.

This has reached the point where outrage ultimately will prevail and the legitimacy of the corporate system will be called into question. It's too bad.

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Related Sites

• Banker's Trust | Deutsche Bank Investor Relations
• Paine Webber | UBS Investor Relations
• Executive Compensation Advisory Services (ECAS)