Successful CEOs Deserve their Huge Salaries Essay - 745 Words

Successful CEOs Deserve their Huge Salaries Are Americas CEOs paid more than they deserve? Many peoples answer is a vehement: Yes. That view is reinforced anew every spring, when companies file their financial statements and we learn how much CEOs were paid last year. In 2003 the average pay for CEOs at 200 of the largest U.S. companies was $11.3 million--but there are a good number whose compensation packages approach the $100 million mark. Faced with these figures, Americans from all walks of life--who revile CEOs as greedy fat cats--are overcome with bewilderment and indignation. Astonished to learn that what an average worker earns in a year, some CEOs earn in less than a week--people ask themselves: How can the work of a†¦show more content†¦What long-term business model will attract venture capital? Should the company accept short-term partial sponsorship from a large drug manufacturer in exchange for a modest royalty on the drug in the future--or risk going it alone and possibly running out of funds? It is on such decisions that a companys success is made--and lives of cancer patients may depend. In order to be successful in the long range, the CEOs strategy must encompass countless factors. He must devise a plan to grow the business in the face of competitors, not only from within the United States but from any and every region of todays global economy. The CEO calls the plays for a team of tens (and sometimes hundreds) of thousands of workers. All of the actions of every employee and every aspect of the business must be coordinated and integrated to produce the cars, computers or CAT scanners that yield profits to the company. It is the CEO who is responsible for that integration. To successfully steer a corporation across the span of years by integrating its strengths toward the goal of creating wealth, requires from the CEO exceptional thought and judgment. Excellent CEOs are as rare as MLB-caliber pitchers or NFL-caliber quarterbacks. And in the business world, every day is the Super Bowl. There is no off-season or respite from the need to perform at ones peak. Given the effect a CEO can have on a companys success, we can understand why their compensation packagesShow MoreRelatedAl Dunlap and Sunbeam875 Words   |  4 Pagesmemo will reflect on and analyze the decisions of the Sunbeam Board of Directors during Albert Dunlap’s tenure as CEO. This analysis will include an overview of Sunbeam’s goals, evaluation of 1996 – 1997 and 1998 compensation package, assessment of the firing decision by BOD and the overall governance of the BOD. 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