Governance Promises Aside, CEO Pay Remains High

Financial services industry scandals have led to new pledges of better governance by companies, but for most, those promises have not led to salary reductions for executives, TheStreet.com reports.

The average compensation has actually gone up 27% to $4.6 million from 2002 to 2003, according to governance research company The Corporate Library. Sure, some companies have cut stock options and bonuses, but during these tumultuous times, the salary increases are at best, questionable.