Corporate boards, the small group of independent appointees who are supposed to protect the best interests of the world’s largest companies, have spent the COVID-19 pandemic bending over backward to protect their CEOs’ massive paychecks.

Boards are supposed to be a check on company executives, ensuring their actions are in the best interest of stakeholders — from employees to shareholders. But even as employees risked their lives on the front lines, many company boards focused on shielding their CEOs from the crisis. The boss didn’t meet their bonus targets? No problem! Simply move a goalpost here, concoct a special “retention” award there, and voilà — pay cut averted.

Read the full article at Business Insider.

Sarah Anderson directs the Global Economy Project at the Institute for Policy Studies and co-edits Follow her on Twitter @SarahDAnderson1.

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