Fund Directions - Directors Affirm Setting Their Own Pay

Directors Affirm Setting Their Own Pay

An overwhelming 91% of subscribers surveyed by Fund Directions said having fund management set directors' compensation is a conflict of interest or gives off the appearance of one. Most of the independent directors surveyed told FD that it is extremely important for directors to set their own compensation because they have a fiduciary duty to the shareholders and this judgment cannot be clouded with any perceived concern for management's role in their pay. At the same time, roughly 62% of those surveyed said shareholders should also stay out of director pay issues. Fund Directions asked its readers for their views in the wake of a Wall Street Journal column citing the benefits and dilemmas of being an independent director.

Herb Eggerding, independent director of Thrivent Funds, ...

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Directors Affirm Setting Their Own Pay