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CFO Pay Under Scrutiny

Critics of excessive CEO compensation are turning their sights toward CFO pay levels

By Staff Writer | Updated on October 01, 2006

Up until now, critics of excessive executive compensation have been content targeting overpaid CEOs. But now many of those same critics are turning their sights on the usually more low profile CFO. Testifying before the Senate Finance Committee, Internal Revenue Service Commissioner Mark Everson floated the proposal that finance chiefs, corporate general counsels and non-executive board chairs be paid a fixed compensation for a specified contract, rather than be paid with open-ended options.

Everson’s testimony came as the committee looks into the practice of backdating options grants. The IRS chief first floated his idea back in March, long before the scandal broke.

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