According to the article “CEOs Don’t Earn Their Pay, Execs Agree” in Today in Finance at CFO.com magazine,
>>Although chief executives are usually charged with setting performance measures, 58.8 percent of respondents said the reason for overcompensated CEOs is a lack of real performance objectives and evaluation. Further, 47.8 percent said rewards bore little connection to future corporate performance. And 39.6 percent faulted "undue CEO domination of the process" as the reason for exorbitant pay.
With everyone seemingly ganging up on the CEO, it might comfort some that 56.3 percent of those surveyed said that their board has a formal CEO succession plan. Good news for the CFO is that most of those queried consider the finance chief to be a natural choice to take the top job.<<
A CFO can become the trusted advisor and confidant to the CEO in creating and executing strategic growth initiatives; benchmarking world-class finance performance measures; and becoming a very visible face of the organization through liaisons with investors and lending institutions thereby positioning himself to move into a CEO role.
The challenge I see … constantly … from my CFOs is a focus on what they did rather (responsibilities) rather than how they delivered (performance). If that sounds like you, begin today to keep track of both the measurable impact to the bottom line and the long–term strategic importance of your contributions. It will matter in defending your future salary.