do you have a problem with a CEO sitting in an office getting millions of dollars a year?
I certainly do. If you look around you often see that the best results come from companies who have hands on CEOs who draw little money. The big banks are the worst offenders. The way to check how good the CEO is, is to ask yourself what would happen to the company if the CEO was run over by a bus.
In the case of the big banks not very much. In fact almost nothing. Warren Buffett and Andrew Forrest both draw little in the way of salary, but Jamie Dimon of JP Morgan just got $20m plus bonuses. That just breeds a culture of "I'm worth so much so I can't make a mistake". And if I do I will never admit it.
In fact I could list a few CEOs who have actually taken millions and almost destroyed their companies. The NAB has been the victim of some dud CEOs who drew millions. Its shareholders have fallen way behind where they should be. I despise CEOs who don't deliver but draw millions.
