Maybe that CEO will also quit, because other companies offer them a higher salary.
It’s so easy to say they should just pay their CEO less. I mean, I get it, it’s a ridiculous amount of money that no one needs. But few people, who are qualified for that job, will just do it out of the goodness of their hearts for a salary far below industry standards.
Maybe they can stop paying their CEO 7 million per year
That CEO quit earlier this year.
Maybe they can stop paying the next CEO 7 million
Maybe that CEO will also quit, because other companies offer them a higher salary.
It’s so easy to say they should just pay their CEO less. I mean, I get it, it’s a ridiculous amount of money that no one needs. But few people, who are qualified for that job, will just do it out of the goodness of their hearts for a salary far below industry standards.
This is predicated on the assumption that a CEOs skill is directly related to their salary.
This may or may not be the case.