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Should Stockholders Vote on Executive Compensation?

In the March Chancery Court program, academics addressed whether and to what extent stockholders should vote on executive compensation. The participants debated the impact of stockholders’ vote on the authority of boards of directors, and discussed if such a change would be compatible with traditional corporation law. Speakers were Stephen Bainbridge of the University of California- Los Angeles School of Law and Harvey Goldschmid of Columbia Law School. Leo Strine, L’88, vice chancellor of the Chancery Court of Delaware, and Penn Law Professor Michael Wachter, co-director of the Institute for Law, were moderators.

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