The Conference Board Announces Executive Compensation Task Force

NEW YORK — With the current economic environment prompting a significant reexamination of the institutions and behaviors that govern the market system, The Conference Board – the global business research and membership organization – announced today the formation of an Executive Compensation Task Force.  

This Task Force brings together corporations and investors, and governance, legal, compensation and ethics experts to address one of the most important issues in today’s business world. The Conference Board’s new Task Force is part of its broader reexamination of the foundations of the current crisis and its impact on global growth and stability as well as institutions, business organizations and markets.

Leveraging its unique position at the intersection of business and society, The Conference Board is convening the Executive Compensation Task Force, which will include director, CEO and investor thought leaders, to provide a neutral, non-adversarial forum for informed debate and identify the critical executive compensation issues and potential solutions to be considered to assure public trust.

The Task Force will be co-chaired by: Raj L. Gupta, Chairman and Chief Executive Officer of Rohm and Haas, and Robert E. Denham, former Chairman and Chief Executive Officer of Salomon Inc.

The Task Force will be housed under The Conference Board Governance Center, which today also named R. William Ide as Chairman of its Advisory Board. Ide, a former president of the American Bar Association, currently is an active board member of several corporations and a partner in the law firm of McKenna, Long & Aldridge LLP. He is a specialist in corporate investigations, corporate governance and crisis management. Ide possesses a global track record of success in conducting investigations for boards and audit committees, and in designing compliance and governance solutions.

The Executive Compensation Task Force, and the broader program being instituted by The Conference Board, is focused on the relationship and responsibilities between business and society at a time when the global economic crisis has brought unforeseen shifts.

“The Conference Board is in a unique position to provide an objective forum for discussion and to elevate the level of discourse regarding executive compensation concerns,” says Ide. “There is an urgent need for rational thought on this emotional issue and The Conference Board can provide the neutral, independent platform needed for this critical dialogue.”

Says Gail D. Fosler, President of The Conference Board: “The discussions resulting from our Executive Compensation Task Force reinforce the role of The Conference Board in helping to guide corporate practices to better align incentives and rewards in ways the public can understand as well as to create a common foundation for a positive role for business in shaping the world in which it operates.”

“We are excited to add the Executive Compensation Task Force to our already broad knowledge base,” says Jonathan Spector, CEO of The Conference Board.

Spector also noted that in keeping with The Conference Board’s dual mission to serve both business and society, the Governance Center will launch additional series of programs over the next year, one of which will focus on the implications of the convergence of U.S. and global accounting standards, and a second that will look at major shifts in institutional ownership patterns.

About The Conference Board
For over 90 years, The Conference Board has created and disseminated knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. The Conference Board operates as a global independent membership organization working in the public interest. It publishes information and analysis, makes economics-based forecasts and assesses trends, and facilitates learning by creating dynamic communities of interest that bring together senior executives from around the world. The Conference Board is a not-for-profit organization and holds 501(c)(3) tax-exempt status in the United States. For additional information about The Conference Board and how it can meet your needs, visit our website at www.conference-board.org.