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.