Deputy Director of the Adam Smith Institute Sam Bowman’s comments on high executive pay featured in the Financial Times, Huffington Post, and in a BBC News article:
From the Financial Times:
But Sam Bowman, deputy director of the Adam Smith Institute, said: “Investors see executives as extremely important to the value of firms, with the strategic decisions they make often determining whether a firm flourishes or goes bankrupt. For that reason, it can be sensible to pay a lot to get skilled executives with good judgment.”
From the Huffington Post:
Business lobby group CBI said high pay was only justified by “exceptional performance”, while think tank, the Adam Smith Institute reportedly justified it by saying the salaries rewarded “extraordinary talent and skills” and the good decision-making that is “as close to invaluable as one can get”.
From the BBC:
But the free-market think tank, the Adam Smith Institute, was more forthright, saying that the right chief executive could make or break a company.
“CEO pay rewards extraordinary talent and skills in a highly competitive, globalised market,” said its deputy director Sam Bowman.
“Good decision-making from the top might not be invaluable, but CEO pay reflects that it is as close to invaluable as one can get.”