Re:Equifax CEO Richard Smith Who Oversaw Breach to Collect $90M
by Aaargh20318 on Friday September 29, 2017 @10:20AM
(#15365471)
> Such a contract would attract charlatains
No it wouldn't. The current contracts do that. The CEO can basically take huge risks with the company at zero personal risk. If it pans out, he gets a huge bonus, if it fails he bails out with a huge severance package and no personal consequences.
It's the same mechanism that got us into the financial crisis. Executives have every reason to take huge risks and none to play it safe.
No it wouldn't. The current contracts do that. The CEO can basically take huge risks with the company at zero personal risk. If it pans out, he gets a huge bonus, if it fails he bails out with a huge severance package and no personal consequences.
It's the same mechanism that got us into the financial crisis. Executives have every reason to take huge risks and none to play it safe.