- The Washington Times - Thursday, April 2, 2009

LONDON (AP) - President Barack Obama says world leaders agree on principles that will bring accountability and transparency to executive compensation at corporations around the world.

Obama says company shareholders should vote on executive compensation, even if the vote is not binding.

He said some sort of “shame function” may be in order as well.

Obama spoke at a news conference Thursday at the end of a summit in London of the world’s 20 largest and developing economies.

Amid the economic crisis at home, the president has been outspoken about multimillion-dollar salaries paid to corporate executives, even when their businesses aren’t doing well.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide