Raul Gallegos, Columnist

Brazil's CEOs Have Nothing to Hide

One of the flimsiest arguments against holding management accountable to shareholders is being played out in a Brazilian courtroom.

April 16, 2014 at 5:59 PM UTC

By Raul Gallegos

Looking over your shoulder is never a bad idea. Photographer: Dado Galdieri/Bloomberg — Looking over your shoulder is never a bad idea. Photographer: Dado Galdieri/Bloomberg

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One of the flimsiest arguments against holding management accountable to shareholders is being played out in a Brazilian courtroom.

Chief executive officers of Brazil's biggest companies are mounting a legal fight to block a regulation forcing them to disclose their pay packages to investors, according to Bloomberg News. Their argument: It's dangerous in Brazil's deeply unequal society for the rich to reveal how much they make.