Kevin Ryan, a Member of the Firm in the Health Care and Life Sciences practice, in the Chicago office, was quoted in an article titled "New-Era Executive Compensation: The Impacts of Dodd-Frank's 'Say-on-Pay' for Hospitals," written by Bob Herman.
Following is an excerpt:
One component of Dodd-Frank that has garnered the spotlight this year is the "say-on-pay" clause for executive compensation. The issue of compensation for hospital executives has been hotly contested over the past several years, and say-on-pay may be adding a new element as patients and other hospital stakeholders want to ensure hospital executives are compensated appropriately. ?...
Two Instances of say-on-pay with two health care organizations, as well as in other publicly traded industries, might suggest this issue is here to stay, says Ryan. "The new standard operating procedure of having shareholders voice their opinion on an executive compensation packages in [the for-profit] sector is actually something that has been seen on the not-for-profit side for the past several years."
