guardian.co.uk: Occidental faces battle with investors over executive pay

guardian.co.uk: Occidental faces battle with investors over executive pay

August 3 2010

One of America’s highest-paid corporate bosses, the Occidental Petroleum chief executive Ray Irani, is facing a rebellion over his multimillion-dollar salary from two maverick investment funds, in a sign of mounting impatience in US business circles over boardroom pay and bonuses.

Joe Sorrentino, managing director at Steven Hall & Partners, a New York pay consultancy, said: “There is a trend in terms of compensation being scrutinized more closely these days – particularly when the stock market is not performing well.”