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The Productivity Commission's executive pay inquiry: An update on the issues

Chairman's speech

Gary Banks gave a presentation on developments in the Commission's Executive Remuneration inquiry to FINSIA forums in Sydney and Melbourne on 3 and 4 June 2009.

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Download the speech

  • Contents

What has really been happening to executive remuneration?
Australian data are limited

What is driving executive pay?
Board capture and rent-skimming?
Danger money?
Linking pay to company performance
Signalling worth?
A war for talent?
Are CEOs really as scarce as hens' teeth?
Tax drivers?

Some key considerations for policy
Identifying the problem - continued
A public interest rationale for intervention?
Aligning interests of executives, boards, shareholders and the wider community?
'Optimal' compensation arrangements?
Better governance arrangements?
Regulatory constraints on pay outcomes

Next steps