I couldn't find a free link to it, but if you get the Wall Street Journal, be sure to read Carol Hymowitz's "In the Lead" today (front page of the Marketplace section). She suggests we rein in CEO pay by outsourcing the position. Here's a small part of her justification.
None of this means U.S. directors should disregard American management talent when filling CEO spots – and pay fairly for it. What is galling is how rarely, even in a time of heightened governance sensitivity, compensation is linked to performance.
It's a very interesting idea. But think about this… when outsourcing software, it could save you money or you could end up with all kinds of problems. Would outsourcing CEOs do the same thing? Some countries have very different business cultures. How many foreign CEOs could run an American company (and vice versa)? Nevertheless, it's an idea that makes you think.