A Roadmap to Compensation Chair Succession & Transition
August 31, 2016
Michael Brittian, Partner with Meridian Compensation Partners joins host TK Kerstetter to outline… A Roadmap to Compensation Chair Succession & Transition.
The responsibilities of today’s compensation committee chairs have grown increasingly complex. With the onset and transparency of Say on Pay, overseeing the committee that structures executive compensation has become akin to walking a tightrope. Today’s compensation chairs have the heightened responsibility of communicating to both shareholders and proxy advisors—a task that, to say the least, requires a knowledgeable board member.
In this episode, Michael Brittian of Meridian Compensation Partners outlines best practices regarding the recruitment, rotation, and transition of compensation committee chairs. We explore the following questions:
- What are the most important skill sets for today’s compensation committee chairs?
- How long should the compensation chair serve? Should there be a limit placed on tenure?
- What steps should the board follow for transitioning a new chair?
Brittian outlines a roadmap for the outgoing chair, senior management, and the outside advisor to ensure a successful passing of the baton. He also presents several tactics, which boards have used in the past, that have been proven to promote a smooth transition and education process.
Don’t Miss the Free Webinar on Compensation Trends
Meridian Compensation Partners is hosting a free webinar on September 15 titled, Looking Ahead to 2017: Executive Compensation Under a New Administration.
The session will explore potential influences on the compensation environment following the 2016 presidential election.More Info
The filming of this episode of Inside America’s Boardrooms was made possible by our knowledge partners. Don’t miss our Knowledge Partner Resources.
More Episodes on Compensation Committees:
- Compensation Committee Best Practices: Pay Increases & Goal-Setting
- The Biggest Risks Facing Today’s Compensation Committees
- What is the Board’s Role in Overseeing Talent Development?