ALASKA: US chamber of Commerce
The Chamber maintains it will cost U.S. companies more than $700 million a year, compared with the SEC’s estimate of about $73 million. Business interests such as the U.S. Chamber of Commerce have lobbied against the requirement, saying it will be costly and time consuming for companies to gather the information.
It will impose on companies and their shareholders an extremely costly and burdensome requirement, and compel companies to disclose immaterial, if not misleading, information, Mike Ryan, vice president of corporate governance at the Business Roundtable, said in a statement Monday. The group represents chief executives at the largest U.S. companies.
Pay packages for CEOs grew for the fifth straight year in 2014, driven by a rising stock market that pushed up the value of executive stock awards. Median compensation for the heads of Standard & Poor’s 500 companies rose to a record $10.6 million, up from $10.5 million the year before.
