Mercer Select US - White House to appoint pay czar, issue guidance on TARP restrictions

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White House to appoint pay czar, issue guidance on TARP restrictions

The Obama administration is expected to soon appoint Kenneth Feinberg to oversee executive pay curbs that apply to companies participating in the Troubled Assets Relief Program (TARP). As "special master for compensation," Feinberg will play a large role in the implementation of impending guidance on the complex TARP pay restrictions, which apply to incentive pay that encourages "unnecessary and excessive" risks, golden parachutes, tax deductions for pay, clawbacks and bonuses. Feinberg is expected to report to Treasury Secretary Timothy Geithner. (Select News, 8 Jun 2009)

Full article (WSJ, 5 June 2009)

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