Executive comp debate gains momentum

Will Seattle CEO’s self-imposed pay cut add fuel to the fire around C-suite salaries?
By Liz Bernier
|Canadian HR Reporter|Last Updated: 05/15/2015

Controversy over executive compensation is nothing new, but it’s an issue that’s been grabbing headlines over recent weeks. CIBC shareholders voted against a generous pay package for outgoing executives last month in a non-binding say on pay vote. And Barrick Gold said it is “re-examining” its approach to executive pay after 75 per cent of investors voted against its executive comp plan. 

Putting a new spin on the issue was Dan Price, founder and CEO of Seattle-based Gravity Payments, who slashed his own salary from just under US$1 million per year to US$70,000 — while raising the minimum salary for his 120 employees to US$70,000.