March

COVID-19 Impacting Executive Pay

Dear Friend,

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It has been a tough month. The Covid-19 outbreak and resulting economic downturn have required individuals and businesses to make drastic changes in their lives and day-to-day operations. The bright spot in all the turmoil, though, is people and organizations banding together and making sacrifices to get through this time – perhaps stronger and more unified than ever before.

One step toward this in executive compensation, particularly in industries hardest hit by the virus, is how CEOs are voluntarily reducing their compensation to contribute to cash reserves for the businesses. This week, we explore that trend and analyze whether it will reverberate throughout other industries.

From everyone here at Farient Advisors, we wish you safety and health.

Sincerely,

Robin Ferracone

Hot Off The Press From Farient

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Executives Worldwide Slash Their Own Pay in Coronavirus Crunch

Executives around the world are now taking pay cuts to make it through the pandemic. I talk with Bloomberg's Anders Melin about this tend and whether deeper cuts are on the horizon for workers.

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Don't Let the Coronavirus Undermine Your Pay Programs

In Agenda, Farient Partner Marc Hodak predicts how the COVID-19 crisis will impact executive compensation and shares the five steps compensation committees should immediately take to avoid their pay practices becoming front page news instead of the pandemic

Comp & Gov Analysis 

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Airlines Trim Capacity Over Coronavirus Spread; Some Executives Take Pay Cuts

Facing the steepest cuts to demand in decades, airlines are responding by slashing routes and pay for their executives. Most carriers in the U.S. have withdrawn their financial guidance for the year and suspended share buyback programs, among other measures.

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Bailout-seeking CEOs Need to Give Up Something in Return 

In this op-ed for Bloomberg, the columnist argues that all companies receiving Federal assistance as a result of the Covid-19 outbreak must demonstrate a willingness to make changes to their executive compensation plans.

Meet Robin Ferracone

Robin is our Founder and Chief Executive Officer. She is the author of the book entitled, “Fair Pay Fair Play: Aligning Executive Performance and Pay” and is a frequent presenter for well-known organizations including Council of Institutional Investors, Society for Corporate Secretaries and Governance Professionals, the National Association of Corporate Directors (NACD), and The Conference Board, among others. Robin has written extensively on the topics of performance management, incentive plan design, goal setting, and corporate governance. She has been quoted by several business and industry publications including, The New York Times, The Wall Street Journal, and The Washington Post. Learn more about Robin.

   

Farient Advisors LLC is an independent executive compensation, performance, and corporate governance consultancy. Farient provides a comprehensive array of services to boards of directors and management including: compensation program design, goal setting and performance measurement, pay and performance alignment, board of directors compensation, and shareholder communication among others. Farient has offices in Los Angeles and New York and covers clients in more than 30 countries through our partnership in the Global Governance Executive Compensation Group (GECN).

New York: 55 E. 59th Street Suite 12B New York NY 


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