ECB's Bini Smaghi says executive pay inefficient
Lorenzo Bini Smaghi, a member of the European Central Bank, on Wednesday said inadequately designed pay packages at the executive level had to be addressed, but that governments should not regulate absolute levels of compensation.
Bini Smaghi said the financial and economic crisis had highlighted not only the high level of executive pay, but also a mismatch between executive pay and performance. The poor design of compensation schemes was proved by the payment of very high salaries, bonuses and
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