It is very seldom that publishing compensation accomplishes much for shareholders. No CEO looks at a proxy statement and comes away saying, ‘I should be paid less.' American shareholders are paying a significant price because they get to look at that proxy statement each year.
That snippet from Warren Buffett in the question and answer session at Berkshire Hathaway’s annual general meeting this year hits on a crucial point. Has all of this remuneration disclosure actually helped shareholders?