In a column that would seem more appropriate for a left-wing college campus news zine than The Wall Street Journal, McGill University professor Henry Mintzberg offers a proposal for how to change compensation practices in America: get rid of bonuses.
Mintzberg offers some well-worn -- and completely valid -- criticisms of stock-based compensation: golden parachutes, retention bonuses, etc. He explains the problems that come with assessing performance and raises another question that isn't talked about nearly enough: just how much of a role do CEOs really play in determining a company's success or failure?
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