2014 Towers Watson Data Services (TWDS) compensation surveys are being completed and TWDS has announced the dates for its fall series of webcasts for survey participants and companies that may be interested in participating in the future.

David Seitz and Marc McBrearty


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

The Public Company Accounting Oversight Board (PCAOB) has finalized changes to its auditing standards that will require auditors to consider the need to review the compensation programs of executive officers to identify and assess the extent to which they create risks that company financials would be misstated.

Steve Seelig and Bill Kalten


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

 Institutional Shareholder Services (ISS) just released its annual policy survey to obtain feedback from institutional investors, corporate issuers and others on possible changes to the proxy advisor’s voting policies for 2015.

Brian Myers and Josh Steinfeld


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

To understand how top-performing companies address the challenges inherent in designing effective executive compensation programs, Towers Watson recently completed an in-depth study of practices among what we’ve defined as enduring high-performing companies. We wanted to understand if they approach executive compensation differently from other companies.  The short answer is that they do, and in sometimes surprising ways.  

Melissa Costa and Todd Lippincott


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

As we noted recently, the Securities and Exchange Commission may propose regulations to guide companies in implementing Dodd-Frank clawback policies sometime this fall. There are a number of unanswered questions companies should consider before they adopt clawbacks to recover incentive compensation paid erroneously following material financial restatements, as Dodd-Frank requires. 

Steve Seelig and Russ Hall


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

While companies in Europe, the Middle East and Africa (EMEA) show continuing progress in terms of their governance of executive pay and their efforts to engage with shareholders, it appears from our recent pulse survey that many companies in EMEA still have more work to do in the area of long-term alignment of pay and performance.

Richard Belfield and Alex Little


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

On June 30, two Securities and Exchange Commission (SEC) divisions issued guidance to investment advisors and institutional investors on their proxy voting responsibilities and use of proxy advisors. The bulletin also addresses proxy advisors’ conflict-of-interest disclosure obligations and may disappoint companies concerned about proxy advisor influence on executive compensation that had hoped the SEC would take stronger action.

Jim Kroll and Brian Myers


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

Throughout this spring, shareholders generally expressed their pleasure with 2013’s bull market by heartily endorsing the compensation of most companies’ top executives in 2014 say-on-pay votes. But, 2014 got off to a tenuous start, which could complicate the pay-for-performance picture if things don’t turn around in the remaining months of 2014. 

Steve Kline, Chris Kozlowski and Ryan Lucki


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

Facing pressure from changing business models, increased marketplace volatility, shareholder expectations and shifting consumer buying patterns, retailers are needing to rethink their performance-based pay programs regularly. While some make incremental changes every year to fine-tune their programs and calibrate their performance goals, our experience suggests that most revisit their incentive programs at least every few years (and about a third change their bonus plans in any given year) in...


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson

 

Multinational companies face a range of challenges in designing and administering effective long-term incentive (LTI) plans for their executives and other key employees worldwide. Among the most common is adjusting LTI award levels outside the home country to address varying local talent needs and regulatory requirements from country to country.  

James Matthews and David Seitz


Full Story
Business logo

Towers Watson
800 Boylston Street Boston MA
(617) 638-3700  Visit Towers Watson