...And Why The `Heavy Artillery' Has Him In Its Sights
Graef Crystal is Paul Revere! I was an expert compensation consultant the first 15 of my 25 years in general management consulting--first with McKinsey, then with Cresap. My primary objective for executive compensation design was the corporation's well-being.
By the end of 15 years, the field had become distasteful to me, and I abandoned it. To win assignments, expert consultants and lawyers, in my opinion, were subtly (or not so subtly) promising too much to top management teams.
I returned recently from several years abroad to find U.S. executive compensation at astonishing levels, even above what I could have expected from the trend of a decade ago.
U.S. executive compensation has gone way over the top. It is designed to aggrandize management. A self-interested coterie of expert "professionals" must bear much of the blame. Not surprisingly, the coterie seems to be mounting heavy artillery to "deep six" Crystal before he can upset their cozy, unexamined world.
Robert V. Goode
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