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Thursday, March 15, 2012

Compensation Committee at GSK

During 2011, we assessed the competitiveness of the remuneration of the Executive Directors and other CET members and were satisfied that in most instances their remuneration was appropriate. However, we did identify a significant competitiveness gap for our CEO," the annual report states.

Good catch. Many people who don't have executive compensation skills would not have caught this egregious oversight. The ability to keep executive compensation competitive is a key factor in the success of the drug industry.

60 Minutes assessed the integrity of GSK executives in 2011. They were not satisfied with what they found.

What is the personality differences between whistle blowers, 60 Minute reporters and corporate executives? What could make a group of people get together and pay themselves so much money while running a company that is so indifferent to the health of their customers?

Beware of the jealousy. Johnson and Johnsons compensation committee has created a monster!

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