Washington — Following Acting Securities and Exchange Commission (SEC) Chairman Michael Piwowar’s announcement that the SEC will reconsider the CEO pay ratio rule, Joshua Bolten, President and CEO of Business Roundtable, today released the following statement:
“Business Roundtable welcomes the SEC’s announcement that it will reconsider the CEO pay ratio rule.
“CEO compensation is already publicly disclosed. The pay ratio rule, which requires chief executives to certify what is an arbitrary and often meaningless number, provides no material information to shareholders or investors.
“Public companies provide significant disclosures that are meaningful for market participants. Reconsidering the CEO pay ratio rule is consistent with the SEC's mission to focus on rules that protect investors, maintain fair and orderly capital markets and facilitate the creation of long-term shareholder value.”
For more information on the Business Roundtable efforts to create more momentum for America, visit businessroundtable.org.