According to a press release on the survey results, more than one-third of executives (34%) expressed at least some concern regarding their CEO’s compensation, compared to 21% of respondents in a 2007 Korn/Ferry survey of executives who felt their CEO was overcompensated.
“The tumultuous economic environment highlights the challenges with getting pay for performance right,” said Russell Miller, managing director of Korn/Ferry’s Executive Compensation Advisors, in the release. “The business community continues to focus on aligning pay and performance, and companies are having mixed success against this objective.”
More than half (55%) of respondents indicated their CEO’s pay does not reflect or is only “somewhat” reflective of the organization’s results. Forty-two percent said their CEO’s compensation was in line with company performance.
Respondents from more than 50 countries, representing a wide spectrum of industries and functional areas, participated in the most recent Executive Quiz in March 2008.