Regarding Ed Townley’s October 24th op-ed, "Time to Walk the Walk on Sustainability," if Business Roundtable executives want to advance the interests of all stakeholders, why they don't they start by narrowing the pay gap between themselves and their workers?
The average corporate chief executive officer makes as much in one day as a typical employee earns in a full year, notes the labor union AFL-CIO (“Everyday Money,” 06/22/18).
Average yearly pay for CEOs in the top U.S. 500 companies is $14 million, compared to $38,600 for the average worker. They make 361 times more pay then their employees.
Rather than pay for performance, CEOs often get a fortune for failure. This means CEO really stands for Compensation Excessively Overpaid.
Office space sharing upstart WeWork's board of directors recently axed CEO Adam Neumann, but gave him $1.7 billion severance package, while cutting 4,000 jobs. Does this demonstrate corporate responsibility or irresponsible corporate greed?
Kew Gardens Hills