WASHINGTON (AP) — Public companies would have to show the difference in pay between their CEOs and ordinary employees under a proposal advanced by federal regulators.
The Securities and Exchange Commission voted 3-2 Wednesday to propose a rule that would compel companies to report that information publicly. Companies would have to report the ratio between their chief executive's annual compensation and the median, or midpoint, pay of employees.
The two Republican commissioners, Daniel Gallagher and Michael Piwowar, opposed the proposal, calling it political showmanship meant to publicly "shame" CEOs.
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