The Securities and Exchange Commission on Wednesday made it official: Public companies will soon have to say exactly how their chief executives' payday compares with a typical employee's.
In a 3-to-2 vote, the commission backed a long-delayed rule demanding that companies publicly share their "pay ratio," a potentially embarrassing corporate revealing that will highlight the country's growing workplace pay gap...
...Sen. Bob Menendez (D-N.J.), who introduced the mandate in 2010, said Wednesday the rule would be a strong tool aimed at "injecting transparency, promoting fairness in Corporate America and restoring sanity to runaway executive pay. Big corporations who insist on top-heavy compensation models will no longer be able to hide from the shareholders.”
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