Global Compensation and Benefits Watch: Resetting Executive Compensation in a New Era of Regulation and Economic Uncertainty

What to expect in the 2024 proxy season on executive compensation

November 21, 2023

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Webcast

Cleary Gottlieb partner Julia Petty participated in the Global Compensation and Benefits Watch: Resetting Executive Compensation in a New Era of Regulation and Economic Uncertainty: What to expect in the 2024 proxy season on executive compensation.

There are plenty of reasons to take a fresh look at executive compensation:

  • We are looking at a U.S. economy with low-growth, sustained inflation, and relatively high interest rates in 2024.
  • The threats of economic disruptions from geopolitical tensions are rising.
  • Companies are facing tremendous opportunities—and investment needs—relating to the digital and sustainability transformations of their industries.
  • And, of course, companies are setting compensation against the backdrop of the SEC’s pay-for-performance and, critically, the clawback rule.

Panelists discussed:

  • How companies can set executive compensation that is realistic in face of economic conditions, resilient in face of risks, and effective in focusing on growth opportunities.
  • Whether and how to redesign executive compensation in light of the clawback rules.
  • What changes in disclosure companies are considering in light of their experience with the pay-for-performance rule.
  • What to ask investors during off-season engagement.
  • What to expect in the 2024 proxy season on executive compensation.

Participants:

  • Wayne Carnall, Former Partner (Ret.), PwC, and Former Chief Accountant, Division of Corporation Finance, SEC
  • Blair Jones, Managing Director, Semler Brossy
  • Julia Petty, Partner, Cleary Gottlieb
  • Paul Washington, Executive Director, ESG Center, The Conference Board (Moderator)

This Global Compensation and Benefits Watch program is hosted by Cleary and The Conference Board Human Capital and ESG Centers.

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