Despite recent moves by the Securities and Exchange Commission to overhaul executive pay disclosure rules, companies aren't rushing to change their compensation programs, according to ...
By Staff Writer|April 01, 2006 at 07:00 PM
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Despite recent moves by the Securities and Exchange Commission to overhaul executive pay disclosure rules, companies aren’t rushing to change their compensation programs, according to a survey by consulting firm Watson Wyatt Worldwide. A February survey of 112 compensation and human resource executives at large publicly traded companies found that 70% said they do not plan any changes to their comp programs in response to the SEC proposal; only 9% reported their intention to make changes. When asked about plans for current year filings, 48% said they don’t intend to change their proxy disclosures this year, while 23% said they will and 29% weren’t sure. “A lot of companies are interested in seeing how others are reacting–a wait-and-see approach is really going on,” says Steven Seelig, executive compensation counsel at Watson Wyatt. The proposals could change after the comment period ends in early April.
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