Two more CEOs give back hard-earned perks…

August 26, 2009

Recently, I was talking to a reporter and they asked me if I ever highlight anything good in the filings and it reminded me of how we used to do this thing called “Gold Star Fridays” where we tried to focus on good corporate behavior. But it’s been forever — well, February — since we last footnoted a company for doing the right thing.

But two recent filings met the test and one’s particularly poignant because it comes from Qwest Communications (Q) a former “winner” of the worst footnote of the year. On Friday, Qwest filed this 8-K to announce the elimination of flexible bonuses — up to $75K a year for CEO Ed Mueller — and $50K a year for other top executives.

That wasn’t the only example, though. CA (CA), another company that should be familiar to footnoted readers, filed this amended proxy that said that the company was getting rid of its tax gross-up for CEO John Swainson personal use of corporate aircraft. Last year, that perk was worth over $80K.

When companies like Qwest and CA start to change their tune in terms of perks, other companies really ought to start paying attention.

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