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SOURCE Bruce Ellig
NEW YORK, Dec. 19, 2013 /PRNewswire/ -- "Golden perks have no place in a company whose objective is pay-for-performance," says executive compensation expert Bruce R. Ellig. "Even worse is when executives receive these golden benefits while reducing employment and/or seeking employee pay givebacks."
Mr. Ellig is the author of the third edition of The Complete Guide to Executive Compensation, which will be published on December 27, 2013.
"Boards and their compensation committees should be prepared to justify to shareholders in their proxy statement any of the following 'golden' executive benefits:"
"These company Christmas gifts for top executives are often worth their weight in gold. But there should be no room for gold in executive stockings – maybe some coal."
About Bruce Ellig
Bruce R. Ellig is a noted authority on executive compensation with more than 35 years of experience. Before retirement, he worked at Pfizer Inc. for 12 years as corporate vice president and head of worldwide HR, reporting directly to the chairman and CEO. During this period, he also served as secretary to the board's compensation committee, in addition to being a member of the internal compensation committee, headed by the chairman and CEO. Mr. Ellig has served on several boards of directors (both for-profit and not-for-profit), including as chairman of the national board of directors of The Society for Human Resource Management (SHRM). He also served on several advisory boards and was a member of numerous premier HR organizations. He is a frequent speaker, and author of well over 100 articles and eight books. Mr. Ellig's expertise has been recognized by his professional peers with numerous honors and awards including several "Man of the Year" awards and the prestigious Lifetime Achievement Award from SHRM and WorldatWork. He was elected to the National Academy of Human Resources in 1993, a year after its formation. Mr. Ellig received the Distinguished Business Alumni Award from the University of Wisconsin where he earned his BBA and MBA and was elected to Beta Gamma Sigma and Phi Beta Kappa.
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