From: Charles Riddell
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I personally feel that CEO pay should be linked reasonably to the average wage of their employees. This would force them to work for the betterment of their company and not just their own interests. Maybe then CEOs would not work with such reckless disregard for the lives and wellbeing of their employees and their families.
I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure. Too often executives are richly rewarded even when their companies' performance is below par. Without better disclosure, shareholders, employees and the general public cannot evaluate whether executive pay packages are unjustly enriching executives at shareholder cost or providing fair compensation.
The newly proposed rules will make this crucial information more accessible to shareholders and the public. The new requirements to disclose total compensation figures, pensions and detailed compensation breakdowns will make it clear exactly how much top executives are earning and why.
I believe that CEO pay should be set by independent directors.