CEO Pay Depends on Board’s Independence

CEOs under an independent chairman make $2.9 million less a year, study shows. A critical factor in how much chief executives are paid isn’t how well their share price performs or how long they run their company. It is who sits at the head of the boardroom table. CEOs that report to a board run by an independent chairman are paid about 20% less than their peers, according to a new study by proxy advisory firm Institutional Shareholder Services. Such executives made $2.9 million less a year on average…