On (sort of) cracking the glass ceiling…
Earlier this week, after a wrestling match fought via proxy (no — not the DEF-14A), Donald Trump shaved the head of World Wrestling Entertainment (WWE) Chairman Vince McMahon in an event that must have been a PR-person’s dream, judging by how quickly the footage of the fake event was taken down on YouTube. (Try to click on one of the videos and you’ll get the message that “the video is no longer available due to a copyright claim by WWE”.
Now, on to the other type of proxy, which WWE filed late yesterday. McMahon may no longer have any hair, but as Chairman he makes 70% more than his wife, Linda, who, at least according to this article is the “powerhouse behind the scenes” of the wrestling empire and has been CEO since 2000. So she has the title, and presumably the responsibility, but hubby still makes more, which means she hasn’t quite cracked the glass ceiling.
The proxy notes that both McMahons waived all compensation between November 2004 and December 31, 2006, but began drawing a salary again on Jan. 1. Other forms of compensation are still waived, the proxy notes. And while the CD&A doesn’t provide much information on why Vince is worth 70% more than Linda, it’s interesting to note that the compensation committee is headed up by Lowell P. Weicker Jr., who was known for being something of a maverick when he was governor of Connecticut. (Indeed, I still remember covering what I expected to be a boring Chamber meeting 15 years ago, only to find Weicker calling the group of assembled business-folk a bunch of racists.)
Maybe all that extra money that McMahon is making for being Chairman can be used to buy some new hair — or at least a new hairpiece.