A new front has been opened in the war on alleged “excessive” executive compensation. Shareholders are beginning to sue companies and top executives whom they deem to be overpaid. And, in the past few weeks, at least two companies have agreed to settle the charges and roll back compensation for several of these executives.
Earlier this month, Abercrombie & Fitch said it will cut the “stay bonus” of Chief Executive Officer Michael Jeffries, from $12 million to $6 million, and in the future tie that bonus to certain performance measures.
