I would love that!
And here's how you do that. Buy a few shares in a company in which you want to influence how executive compensation is performed. Go to a shareholder's meeting. Advance your proposal for shareholder vote. If the shareholders vote in favor of setting up a scheme whereby they directly vote for compensation for the CEO, then that's the way it will be.
Doesn’t that make sense as a law? Why should I, as a shareholder, have to fly across the country to ask for a provision to be voted on that I am allowed some say in what the execs at MY company make?
Makes no sense.
Make it law.