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Friday, September 3, 2010

Are CEOs of Private Sector Companies as Precious as They Are Made Out to be?

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CEOs of Private Sector Companies Alone Don't Achieve; So There Is No Need to Pay Them Obnoxiously and Obscenely High Salaries

It is beyond comprehension why CEOs of private sector companies should draw terribly and vulgarly high salaries not only as compared to other employees of these organizations at different levels but also as compared to the very next level of executives who also take up lots of responsibilities and contribute towards the success of that organization.

Many organizations in public or government sectors and NGOs do pretty decently despite the fact that the chairmen and CEOs of public sector profit making huge conglomerates, CEOs of the states, judges, governmental bureaucrats etc get paid just about marginally more than the other senior employees or even the other employees. Then, what is so great about the CEOs of private sector organizations?

And it is not that after paying astronomically high salaries, all the CEOs run their companies effectively or ethically. Many of them still remain as corrupt and greedy as they could be despite getting large sums of legitimate money.

It is high time that the shareholders of the private sector companies should wake up and start exercising more control over the board of directors of their companies in order to regulate the emoluments of the CEO they appoint.

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