Ministry clamps down on CEO benefits

  • 2003-09-11
  • Steve Roman
TALLINN - Estonia's Ministry of Economic Affairs and Communications launched anunprecedented campaign this month to rein in the activities of state-ownedcompanies, particularly with regard to how they reward their chief executiveofficers. Meeting with state-appointed board members of 16 wholly and partiallystate-owned firms on Sept. 2, Economics Minister Meelis Atonen set out newguidelines for contracts with top management, making clear the ministry'sposition that it would now review and approve compensation packages for CEOsof state-owned companies.The news comes amid an outcry in Estonia'...
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