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Leadership

Protecting Your Assets

In “Divorce in the Workplace” (June 2006), we described Jack Welch’s woes and Gary Wendt’s folly in their divorce situations, coterminous affairs and financial settlements. We strongly recommended a prenuptial agreement in order to protect the depletion of the executives’ assets. Many executives marry long before they accumulate wealth and do not have such an agreement. Obtaining a postnuptial agreement ...

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Pay For Performance: Beating “Best Practices”

Compensation

Widespread criticism of CEO pay packages have spurred directors to engage in a diligent search for best practices. This vigilance is transforming the process of executive compensation design, administration and oversight at many major public companies. But have all these process changes improved the compensation plans?We conducted empirical research on the way various compensation structures work for or against shareholder ...

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CEO in the Ditch

At a “town hall” meeting with employees of St. Louis-based Insituform, a $600 million firm that repairs sewer, water and other underground piping systems, someone asked CEO Tom Rooney, “What do you people in corporate do? Aren’t you just overhead while the people in the field do the work?” After his initial irritation passed, Rooney realized the employee’s question spoke ...

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The Real Thing

Coca-Cola employee and several accomplices managed to pirate a number of confidential documents and a sample of a new product from the company’s Atlanta headquarters and tried to sell them to rival PepsiCo for $1.5 million. The scam was dropped in its tracks when the folks at Pepsi told Coke of the attempted heist. Coke called in the FBI, which ...

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