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(Huffington Post)   War on CEOs™ claims another victim as Shareholder's Spring gets into full swing   ( divider line
    More: Interesting, CEO  
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1640 clicks; posted to Business » on 09 May 2012 at 11:01 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-05-09 10:19:20 AM  
The chief executive of Aviva, Britain's largest insurer, has resigned following a shareholder revolt over executive pay, the company said Tuesday.

2012-05-09 10:59:42 AM  

thomps: The chief executive of Aviva, Britain's largest insurer, has resigned following a shareholder revolt over executive pay, the company said Tuesday.



/throws chair through store window
//fills shopping cart with jugs of bleach
2012-05-09 11:12:29 AM  
Had to happen eventually.

Shareholder: "Listen guys, I put money in your company and I want a return. I'm also one of the very few people in the world who can personally sue you into the Stone Age. Payroll's a bit thick and you're already down to the minimum amount of underpaid staffing, so who here is the fattest cow in the room?"
2012-05-09 11:13:49 AM  

Funny to see these Ivy league babies take their ball and go home when shareholders wake up to the fact they're being ripped off.

Some of the best CEO's in the world are produced from Germany, and they're dirt cheap compared to American CEO's. If the market for CEO's truly was merit and cost based, IE capitalistic; the wouldn't you see American BOD's seeking out German CEO's to save companies compensation money?

You don't, because there's nothing logical or smart or even economical in how they appoint CEO's. 1/2 the time it was the frat brother that was drinking beer from someones butt crack. An Ivy league frat brother butt crack, but still...
2012-05-09 11:25:54 AM  
I have been assured that all CEOs are above average!
2012-05-09 11:32:16 AM  
I'm not worried. I'm sure the companies will not find a shortage of people able to claim that their unique skill set of knowledge and leadership will drive the company to success.... and if they don't, those same people will also admit they can't know everything that goes on in the company. It is just too much to expect one man to know all of all those intricate moving parts.

"The closest thing I've ever had to an accounting course is a preliminary course in economics," Ebbers said. "I know what I don't know, and to this day I don't know technology. I don't know accounting or finance." -- Bernard Ebbers
2012-05-09 12:13:50 PM  
"We suspect that the latest batch of negative headlines over the Remuneration Report at the AGM was the last straw and Moss had to go," said Barrie Cornes, analyst at Panmure Gordon & Co. "Few will shed any tears given his handling of the business over the last few years which have seen the shares massively underperform the sector."

Aviva said its chairman-designate, John McFarlane, would step in as interim CEO and "will immediately assume the task of improving the delivery of shareholder value by the group."

When will stock market people start to realize that the only way you can increase the value of shares is increasing the value and marketability of the services/products that the company offers to its customers?

This shift of "shareholder accountability" is simply the changing of the curtains-and companies will be further encouraged to screw over its customers..
2012-05-09 12:28:55 PM  
CEO performance accountability?

Now that's just crazy talk!
2012-05-09 12:54:48 PM  
I'll go get my pitchfork. It's pitchfork time, right guys?
2012-05-09 01:09:19 PM  
Now this is a War I can get behind. CEO blood for the Blood God! Let the Universe drown in it! Full Size
2012-05-09 01:35:13 PM  
2012-05-09 06:35:50 PM  
The free market has no mechanism for spiraling executive pay, which is why the OWS is calling for Government regulation of salaries.
2012-05-10 02:31:49 AM  
But! But! The job creators need that money to create jobs!
*must... hold... in... laughter*
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