What is wrong with this statement? In a number of instances it is true.
I know many will say "Let the market determine compensation" and, to large extent, I agree.
The problem in these instances is that the 'Market' is not speaking. These COE's are in too many instances, working against the interests of the owners (Stockholders) and dealing with a decidedly closed system in the determination of compensation.
In many cases the Boards of these companies are not truly reflective of the Stockholders interests, able to inflict Majority Tyranny or able to divide the voting base so as to virtually control and operate these companies in the absence of any semblance of Corporate Democracy.
Flame away.
There’s nothing wrong with thinking that, but as a journalists to say “ignore rich CEOs” to show them who’s boss seems like a typical whiny liberal thing to do.